JPMorganChase has entered into an agreement to purchase 60,000 metric tons of durable carbon dioxide removal (CDR) credits from Graphyte, a leading American GreenTech firm. The credits will be produced using Graphyte’s proprietary “Carbon Casting” technology, which involves sequestering carbon-rich residual biomass underground to prevent the release of greenhouse gases.
The credits are slated for delivery from the company’s existing Project Loblolly plant in Pine Bluff, Arkansas, and its upcoming Project Ponderosa facility in Flagstaff, Arizona, which is scheduled to commence operations in 2027.
Graphyte CEO Barclay Rogers explained that these credits allow businesses to neutralise unavoidable operational emissions, such as those from corporate travel. Rogers said, “Whenever an executive flies on a jet, greenhouse gases are generated on the business side. They cannot eliminate that, but to achieve the business’s climate goals, they buy a credit from Graphyte. We help them reach their green sustainability goals by offsetting emissions.”
Beyond carbon sequestration, Graphyte’s model provides secondary benefits by reducing wildfire risks through biomass management and creating economic opportunities for local farmers and foresters.
Taylor Wright, head of operational sustainability for JPMorganChase, said, “Graphyte’s approach of sequestering residual carbon-rich biomass represents an innovative pathway to address emissions while generating economic opportunities for communities.”
Rogers further noted the reliability of their operations, stating, “Given its track record of 100% on-time credit deliveries, Graphyte can help organizations incorporate high-quality carbon removal into their strategy for addressing operational emissions. This agreement demonstrates the growing confidence and momentum behind CDR solutions that are not only scientifically robust, but also immediately deployable and economically viable.”
