Subsurface waste management and carbon removal firm Vaulted Deep has announced a $35 million debt facility from Mediobanca to accelerate the expansion of its national infrastructure network.
Arranged by CFP Energy, the transaction marks the largest publicly disclosed US commercial debt deal in durable carbon dioxide removal (CDR) secured against long-term purchase contracts. The financing framework illustrates how multi-year offtake agreements can enable climate tech developers to access mainstream institutional debt for physical asset deployment.
The credit facility is backed by Vaulted Deep’s waste service agreements alongside contracted CDR revenue, including offtake commitments with Frontier—an advance market commitment initiative supported by corporations such as Stripe, Shopify, and Google. Vaulted Deep delivered over 20,000 tonnes of carbon removal to Frontier buyers during the first half of 2026, exceeding its total delivered volume for 2025. Over the same period, weekly processed waste volumes increased sixfold.
Julia Reichelstein, Chief Executive Officer and Co-Founder of Vaulted Deep, stated that the financing allows the company to progress additional project sites and invest in site evaluation technologies to address regional waste disposal constraints.
The capital will fund the rollout of Vaulted Deep’s AI-Accelerated Site Development Platform, which integrates geology, regulatory, and waste-supply data to streamline site discovery, permitting, and injection operations. Monitoring algorithms are deployed at active facilities to optimize safe disposal capacity and standardize operational replication.
Hannah Bebbington Valori, spokesperson for Frontier, noted that the transaction demonstrates how large offtake agreements can enable climate companies to raise traditional institutional capital to scale operations.
The facility complements $48 million in equity raised by Vaulted Deep to date, as well as an $8 million XPRIZE Carbon Removal award. Carbon insurance firm Artio assisted in structuring the transaction to manage investment risk.
