Cleantech startup Graphyte announced today a new agreement with JPMorganChase for the purchase of 60,000 tons of durable carbon dioxide removal (CDR) credits over a ten-year period, generated from its U.S.-based projects to permanently sequester compressed biomass.

Founded in 2023, Arkansas-based Graphyte provides durable, low-cost carbon removal technology utilizing natural processes such as photosynthesis. The company’s “Carbon Casting” approach dries and compresses biomass, such as residues from timber and agricultural operations, into dense carbon blocks, which are sealed in an environmentally safe, impermeable polymer barrier and stored in monitored underground sites. According to the company, the process preserves nearly all of the carbon captured in the biomass while consuming very little energy, enabling a low-cost and highly scalable carbon removal solution.

The company said that it will supply the credits for the new agreement from its Project Loblolly facility in Arkansas, which utilizes agricultural and timber residues from local farmers and mill operators, as well as from its planned Project Ponderosa in Flagstaff, Arizona. The new facility is expected to utilize residual biomass from forest thinning activities, while contributing to land restoration and reducing wildfire risk by restoring a former mine site as wildlife habitat.

Barclay Rogers, CEO of Graphyte said:

“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.”

The agreement marks the latest in a series of carbon removal deals by JPMorgan, spanning technologies such as Direct Air Capture (DAC) and biomass carbon removal, as well as deals made through its participation in carbon removal buyers coalition Frontier.

Taylor Wright, Head of Operational Sustainability at JPMorganChase said:

“We are focused on supporting the development of high-quality, durable carbon removal solutions that can scale over time and deliver benefits beyond carbon removal. Graphyte’s approach of sequestering residual carbon-rich biomass represents an innovative pathway to address emissions while generating economic opportunities for communities.”