MEMPHIS,
Tenn. and FORT WORTH,
Texas, Nov. 28, 2023 /PRNewswire/ -- Graphyte, a
carbon removal startup backed by Breakthrough Energy Ventures,
today announced that American Airlines will be its inaugural
customer, with the purchase of 10,000 tons of permanent carbon
removal to be delivered in early 2025.
Graphyte's Carbon Casting process leverages readily available
biomass, efficient processing and state-of-the-art monitoring to
make carbon dioxide (CO2) removal quantifiable and
permanent. Relative to existing carbon removal approaches,
Carbon Casting permanently removes and stores
CO2 using significantly less energy and at a
substantially lower cost.
"This is a landmark agreement for both Graphyte and American
Airlines," said Barclay Rogers, CEO
of Graphyte. "It demonstrates the growing demand for affordable and
scalable high-quality carbon removal credits and the ability of
Carbon Casting technology to make a significant impact in the fight
against climate change in the very near term."
American has a long-term goal to reach net-zero emissions by
2050, and is investing in a variety of technologies to reduce its
carbon footprint. While American's focus is to reduce emissions
within its operations – for example, through the purchase of more
efficient aircraft and low carbon sustainable aviation fuel -- it
recognizes that carbon credits will play a critical role in
eliminating aviation's residual emissions. With its purchase of
carbon removal credits from Graphyte, American aims to accelerate
and scale the CO2 removal market.
"American is focused on accelerating new low-carbon technologies
to reduce aviation's climate impact," said Jill Blickstein, Chief Sustainability Officer at
American. "Hard to abate industries like aviation will need
high-quality, permanent, affordable and scalable carbon credits –
including removals -- to achieve our emissions reduction goals. We
are excited to work with Graphyte to help them scale their
important new technology."
This first commercial-scale deployment of Carbon Casting will
take place at a Graphyte facility in Pine
Bluff, Arkansas, which sits at an intersection of major
agricultural and timber production areas. Carbon Casting leverages
readily available biomass byproducts, including crop and wood
residues, that have already captured significant
CO2 from the atmosphere through photosynthesis. The
biomass is then dried to prevent decomposition, converted into
dense carbon blocks, wrapped in an environmentally safe polymer
barrier, and monitored in a state-of-the-art underground storage
facility.
About Graphyte
Graphyte, a permanent carbon removal company backed by Breakthrough
Energy Ventures, has engineered the world's only carbon dioxide
removal approach that is permanent, affordable, and immediately
scalable. By combining photosynthesis with practical engineering,
Carbon Casting provides an immediate pathway for billions of tons
of low-cost carbon removal with durability over 1,000 years.
Visit Graphyte.com to learn more.
About American Airlines Group
To Care for People on Life's Journey®. Shares of
American Airlines Group Inc. trade on Nasdaq under the ticker
symbol AAL and the company's stock is included in the S&P 500.
Learn more about what's happening at American by
visiting news.aa.com and connect with
American @AmericanAir and
at Facebook.com/AmericanAirlines
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content:https://www.prnewswire.com/news-releases/graphyte-signs-first-carbon-removal-purchase-agreement-with-american-airlines-10-000-tons-of-carbon-dioxide-removal-will-be-delivered-using-new-carbon-casting-technology-301996421.html
SOURCE Graphyte