Graphyte and JPMorganChase have entered into a long-term agreement for the delivery of 60,000 tonnes of carbon removal credits over the next decade, marking a step toward scaling durable carbon removal solutions, ESG News reported.
The deal signals a growing shift among large financial institutions toward securing long-term carbon removal to address emissions that cannot be reduced through conventional methods. For JPMorganChase, the agreement is part of its wider climate strategy and support for emerging technologies.
Graphyte will generate the credits using its Carbon Casting process, which converts biomass into a stable form for underground storage. The method uses agricultural and forestry waste, helping lock away carbon while reducing reliance on energy-intensive technologies.
Initial supply will come from Project Loblolly in Arkansas, which is already operational, while a second facility, Project Ponderosa, is being developed in the western United States to expand capacity.
The projects are also expected to support local economies. In Arkansas, agricultural and timber waste will be sourced from nearby areas, creating additional income opportunities for farmers and supporting jobs. In Arizona, the focus will be on forest biomass, which also helps reduce wildfire risks.
The agreement reflects increasing demand for carbon removal solutions that are reliable, scalable and can deliver measurable outcomes, as companies step up efforts to meet climate commitments.
