The Ledger
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Ransohoff: Stripe requires 1,000-year permanence and a sub-$100 price trajectory
“And what we're looking for is solutions that have more than a thousand years of permanence that have a pathway to sub a hundred dollar a ton removal, even if they're expensive Today, and we've paid more than 2000 dollars per ton from heirloom this last cycle. …”
Ransohoff: Stripe ignores current carbon prices to focus on sub-$100 glide paths
“So we Stripe don't care what the price is today. We are very focused on trying to understand what the glide path for each of these technologies looks like on the way to sub a hundred dollars and more than half a gigaton.”
Ransohoff: Stripe Climate buys expensive frontier carbon removal to accelerate cost curves
“We then, Stripe, aggregate those funds and use it to buy carbon removal from really promising solutions that are expensive today, but that have the potential to be really low cost and high volume in the future. So essentially we're trying to help we're like bu…”
Ransohoff: Stripe prioritizes permanent carbon removal as the biggest climate solution gap
“Our approach is let's look across
The climate sort of ecosystem.
Find what we think the biggest gap is and where we think we are in a somewhat good position to move the needle on it.
And carbon removal where we're pulling CO two out of ambient air or out of…”
Ransohoff: Stripe awards fixed-dollar contracts, back-solving volume for early startups
“For most companies, we are giving them the same dollar value or just buying different number of tons from them. We sort of back solve the number of tons based on the total contract value.”
Ransohoff: Stripe offers $500k first-customer contracts to qualifying carbon removal startups
“And our partnership with Activate and with Deep Science Ventures is essentially saying, you know, we will, for any company that meets our Target criteria. We will give you a 500,000 dollar procurement contract to be your first buyer and help bridge that commer…”
Ransohoff: Stripe was the first customer for seven of ten removal applicants
“So far, the companies that have applied to our RFP are all startups, and we were the first customer for seven of 10. We're not opposed to buying from later stage companies, but we haven't seen them.”
Stripe Climate is splitting carbon procurement into capture and storage tracks
“We are actually evolving our Stripe climate purchase process this year to think about capture and storage separately so that there's going to be a storage track and a capture track, and we can help sort of mix and match those.”