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

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Graphyte (GRPH) announces landmark agreement with American Airlines (AAL) for the purchase of 10,000 tons of permanent carbon removal. American Airlines aims to accelerate and scale the CO2 removal market to achieve its emissions reduction goals.

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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SOURCE Graphyte

FAQ

What is the landmark agreement announced by Graphyte (GRPH) and American Airlines (AAL)?

Graphyte announced a landmark agreement with American Airlines for the purchase of 10,000 tons of permanent carbon removal.

What is American Airlines' long-term goal related to carbon emissions?

American Airlines has a long-term goal to reach net-zero emissions by 2050 and is investing in various technologies to reduce its carbon footprint.

Where will the first commercial-scale deployment of Carbon Casting take place?

The first commercial-scale deployment of Carbon Casting will take place at a Graphyte facility in Pine Bluff, Arkansas.

How does Carbon Casting technology work?

Carbon Casting leverages readily available biomass byproducts, including crop and wood residues, to convert them into dense carbon blocks, which are then wrapped in an environmentally safe polymer barrier and stored in an underground facility.