Terradot, a carbon removal startup, has entered into a long-term purchase agreement and equity investment from Google to help catalyze Terradot’s enhanced rock weathering projects. Under the agreement, Google will purchase 200,000 tons of carbon removal credits, to be delivered by the early 2030s, marking the largest ERW deal to date.
In addition, Terradot has also facilitated offtake agreements with Frontier, an advance market commitment founded by Stripe, Alphabet, Shopify, Meta, McKinsey, and tens of thousands of other businesses using Stripe Climate. Frontier buyers will pay US$27 million to remove 90,000 tons of COâ‚‚ between 2025 and 2029.
These transactions follow Latham’s representation of Terradot in its recent US$58.2 million equity financing raise.
Latham & Watkins LLP represents Terradot in the transactions. The team was led by Los Angeles partner Aron Potash, Bay Area partner Michael Podolny, and Los Angeles counsel Michael Dreibelbis, with associates Christopher Pham, Matthew Green, Jim Lambert, and Qingyi Pan.*
*Admitted to Practice in New York Only
