Stockholm-based Milkywire announces an exciting new collaboration with Salesforce, securing a $5 million commitment to advance durable carbon removal solutions. This collaboration underscores a shared mission to tackle climate change through innovation, with Milkywire’s Climate Transformation Fund driving early-stage funding for transformative carbon removal technologies.
Dec 11, 2024
OCTAVIA CARBON
Stockholm-based impact platform Milkywire has secured a $5 million commitment from Salesforce to pre-purchase durable carbon removal (CDR) credits. The purchase aims to give catalytic support to the early-stage CDR market. This investment is part of Salesforce’s ambitious pledge as a founding member of the First Movers Coalition to purchase $100 million in durable carbon removal by 2030. Milkywire is a global leader in early-stage carbon removal funding, having purchased from 27 suppliers through its Climate Transformation Fund, backed by companies like Klarna, Spotify and ING Bank. Milkywire advances innovative companies and underexplored technologies in carbon removal, often serving as the first buyer for companies developing new solutions such as direct air capture, biomass, and ocean-based carbon removal. Since 2021, Milkywire has provided catalytic funding to a diverse set of projects across 15 countries, covering nine distinct carbon removal methods.
“To tackle the climate crisis head-on, companies must invest in bold, transformative solutions that drive long-term impact. Just as we empower our customers with agents through Agentforce to drive change and innovate, we’re also accelerating early-stage carbon removal solutions to drive meaningful climate action. Through our collaboration with Milkywire, we’re building the foundation to scale innovative carbon removal solutions to commercial viability, while delivering co-benefits that support both people and the planet,” says Jamila Yamani, Director of Climate & Energy at Salesforce. Milkywire has supported many innovative projects that combine durable carbon removal with meaningful benefits for communities and ecosystems. For example, in Kenya, Flux is advancing enhanced rock weathering, contributing to increased crop yields and farmer incomes. Octavia Carbon is leveraging geothermal-powered direct air capture and permanent carbon storage, creating skilled job opportunities and helping to develop a new export industry. In India, Takachar and Mash Makes are transforming agricultural waste into biochar, improving soil health, reducing air pollution, and supporting local farmers. These projects highlight the type of impactful initiatives that may be supported through this collaboration. “By stepping in early, Salesforce is helping build the infrastructure for durable carbon removal, a commitment not just to innovation but to real, future-ready climate action,” says Nina Siemiatkowski, CEO and Founder of Milkywire. “Our work with Salesforce reflects a shared mission to accelerate climate solutions, drive innovation, and scale solutions needed to stabilize global temperatures while creating positive impacts for both people and nature.”
“Scaling carbon removal is one of the hardest, yet most necessary, tasks if we’re to stop and reverse climate change. Our role is to help these technologies go from concept to reality. That takes companies like Salesforce, who aren’t just looking to meet near-term targets but to build the solutions needed in the future,” says Robert Höglund, Head of Climate Strategy and CDR at Milkywire.
In mid-December, Milkywire opens its annual call for proposals for durable CDR projects. Last year, Milkywire received over 230 applications from CDR suppliers worldwide, making it one of the most competitive calls for proposals. Milkywire purchased from 13 new projects after a rigorous selection process. “We’re seeing a wave of innovation from companies developing new solutions to carbon removal,” Höglund adds. “Each year’s call brings new potential for breakthroughs, and we look forward to connecting with visionary projects again.”
Related links
•Carbon dioxide removal (CDR)