JPMorgan signs Graphyte for biomass-based carbon removal for 10 years

Cleantech startup Graphyte has entered into a long-term agreement with JPMorgan Chase to supply 60,000 tonnes of durable carbon dioxide removal (CDR) credits over a period of ten years.

As per official statement, the credits will be generated from Graphyte’s projects in the United States, which focus on permanently storing carbon through compressed biomass.

Founded in 2023 and based in Arkansas, Graphyte develops low-cost carbon removal solutions using natural processes such as photosynthesis. Its proprietary “Carbon Casting” method involves drying and compressing biomass—such as agricultural and timber residues—into dense carbon blocks. These blocks are then sealed in an impermeable polymer barrier and stored in monitored underground locations. The company claims this process retains nearly all the carbon captured in the biomass while using minimal energy, making it both scalable and cost-effective.

Under the agreement, Graphyte will supply credits from its Project Loblolly facility in Arkansas, which sources biomass from local farmers and timber operators. Additional supply is expected to come from its upcoming Project Ponderosa in Flagstaff, Arizona. This planned facility will utilise biomass from forest thinning activities, contributing to land restoration efforts and helping reduce wildfire risks. It will also repurpose a former mining site into a wildlife habitat.

Barclay Rogers, CEO of Graphyte, informed, “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.”

Taylor Wright, Head of Operational Sustainability at JPMorganChase, stated,“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.”

The deal adds to JPMorgan’s expanding portfolio of carbon removal initiatives, which includes investments in technologies such as Direct Air Capture and participation in the Frontier carbon removal buyers coalition.