Frontier, a coalition between Shopify, Google, JPMorgan Chase and others, reportedly plans to buy US$1.7-million in carbon credits from three companies. pHathom Technologies, which gathers and stores carbon dioxide from coastal biomass facilities, is among the firms supplying the credits. (Reuters, The Logic)

Talking point: The agreement with Frontier supports a unique technology in the carbon capture space. pHathom uses limestone and other minerals to separate CO2 from industrial exhaust systems, then stores that CO2 in seawater where, according to the company, it will remain for thousands of years. Under its contract with Frontier, pHathom will supply 510 tonnes of CO2 in the form of carbon credits. Frontier helps carbon removal companies earn steadier revenue, often by agreeing to buy the CO2 the companies successfully store at a set per-tonne price. Italy’s Limenet and U.S. firm Karbonetiq were the other two companies that Frontier reportedly backed.