New financing from Mediobanca and facilitated by CFP Energy will support new waste disposal sites across the country and continued investment in technology to accelerate site development.

Vaulted Deep, a waste management company building subsurface infrastructure for organic waste, today announced a $35 million debt facility from Mediobanca to expand its national buildout. The financing, arranged by CFP Energy, a leading provider of market-based energy transition solutions, is the largest publicly disclosed U.S. commercial debt deal in durable carbon removal to be secured by long-term purchase contracts. It demonstrates how such contracts can help companies borrow from mainstream lenders to build physical infrastructure.

The facility was supported by Vaulted’s waste service agreements and contracted carbon removal revenue, including its set of offtakes with Frontier buyers. Frontier is an advance market commitment backed by companies including Stripe, Shopify, and Google. Vaulted delivered more than 20,000 tons of carbon removal to Frontier buyers in the first half of 2026, surpassing the total amount delivered in 2025. Since 2023, the company has also increased weekly waste volume sixfold, reflecting its ability to scale operations alongside demand.

“Waste operators across the country need new options as traditional disposal options become limited. This financing lets us take on more projects and invest in the tools that help us evaluate and develop new sites faster,” said Julia Reichelstein, CEO and Co-Founder of Vaulted Deep. “This is a meaningful milestone for Vaulted as we move into the next phase of building infrastructure at a much larger scale.”

The new capital will help Vaulted advance more projects through its AI-Accelerated Site Development Platform, which combines proprietary technology and operating experience across site discovery, permitting, and injection operations. Geology, regulatory, and waste-supply data narrow the search for candidate sites while standardized templates and regulatory guides speed up the path to permitting. Once a site is running, monitoring and control algorithms maximize safe disposal capacity. Together, these tools make new sites faster to open and easier to replicate.

“Frontier’s theory of change is that robust demand for carbon removal, in the form of large, multi-year offtake agreements, gives companies the ability to raise the capital required to build and expand their businesses,” said Frontier spokesperson Hannah Bebbington Valori. “Vaulted raising institutional debt to expand their site development capabilities is a great example of this theory in practice.”

Tyler Manchester, Head of Voluntary Carbon, CFP Energy said:

“By facilitating these types of transactions, we connect institutional capital with innovative climate technologies, helping accelerate the deployment of high-integrity carbon removal solutions. It reflects growing investor confidence in these solutions, driven by rising demand from corporate buyers seeking permanent pathways to support net-zero commitments and long-term climate strategies.”

The facility adds a new source of growth capital alongside the $48 million in equity Vaulted has raised to date and its $8 million XPRIZE Carbon Removal award. The capital positions Vaulted to advance multiple infrastructure projects as it builds beyond its existing operations.

Artio, a leading carbon insurance firm, supported the transaction by helping to de-risk the investment, as part of its wider work to unlock capital for high-quality carbon projects.