JPMorganChase announced on 9 April 2026 a 10-year purchase agreement with Graphyte for 60,000 metric tonnes of durable carbon dioxide removal (CDR). This is the largest publicly disclosed contract for Graphyte, which was founded in 2023 and uses a proprietary process called Carbon Casting — compressing agricultural and forestry residues into dense, stable forms before permanently sequestering them underground.
Unlike biological carbon storage (forests, soils) which can be reversed by fire, disease or land-use change, Graphyte's Carbon Casting process converts carbon-rich organic material — primarily waste biomass from agriculture and forestry — into a physically stable form that resists decomposition. The compressed material is then buried underground, where it is projected to remain sequestered for thousands of years. This qualifies as durable, or "permanent," CDR under leading registry standards.
The deal's Arizona facility adds a secondary benefit: the project will source biomass from forest-thinning operations in fire-prone western US landscapes. Forest thinning reduces wildfire risk but typically lacks commercially viable end markets — making Graphyte's demand an economic enabler of wildfire prevention, a compelling co-benefit for corporate buyers seeking multi-stakeholder impact stories.
60,000 tonnes over 10 years = 6,000 tCO₂/year. While modest relative to net-zero targets at corporate scale, this deal signals that tier-1 financial institutions are actively building durable CDR supply chains — even amid broader US policy uncertainty around climate incentives.
JPMorganChase has now struck multiple CDR supply agreements with different providers, indicating a portfolio approach to procurement. Taylor Wright, Head of Operational Sustainability at JPMorganChase, noted that "Graphyte's approach of sequestering residual carbon-rich biomass represents an innovative pathway to address emissions while generating economic opportunities for communities."
The deal also reinforces a growing market signal: corporate buyers are differentiating between removals quality tiers. Buyers such as JPMorgan, Stripe, and Microsoft are paying premiums for durable, verifiable CDR rather than defaulting to lower-cost avoided-emission offsets. This bifurcation will likely accelerate as VCMI Platinum claims require retirement of only the highest-integrity credits.
Biomass carbon removal is emerging as one of the most commercially scalable durable CDR pathways — combining relatively low cost vs. direct air capture with geological permanence. For TrustVal clients building voluntary carbon portfolios, Graphyte-style projects offer a credible bridge between near-term availability and long-term durability requirements. We expect CDR procurement agreement volumes to increase significantly through 2027 as VCMI Platinum requirements tighten.
TrustVal helps corporate buyers and project developers navigate carbon markets with confidence. Talk to our team about your carbon strategy.
Get in touch →