News Summary

Microsoft has entered into a significant agreement with Vaulted Deep, an Xprize startup, to purchase 4.9 million metric tons of carbon removal credits. This move is part of Microsoft’s efforts to address its carbon emissions, which have increased by nearly 25% since 2020. The 12-year deal, which will last through 2038, involves Vaulted Deep using innovative technology to inject solid waste into porous rocks deep underground, thereby removing carbon from the atmosphere. Vaulted Deep, a runner-up in the Xprize Carbon competition, previously raised $32 million in a Series A funding round led by Prelude Ventures. Microsoft continues to invest in carbon removal solutions as it aims to achieve negative carbon emissions by 2030. This partnership is a step towards that goal, complementing other investments such as a 7 million metric ton deal with Chestnut Carbon and a 3.7 million metric ton deal with CO280.