Michelle Ma of Bloomberg reports on a new climate startup.
- Graphyte is a new startup that is using old wood and waste to pull CO2 from the atmosphere.
- The process works by sterilizing biomass waste like discarded wood residue to prevent decomposition.
- This product is then taken to an engineered storage site where the waste will be locked away and its emissions prevented from being re-released.
- Private sector ingenuity is creating innovative climate solutions.
“Graphyte is in the process of building its first plant in Pine Bluff, Arkansas, near local timber and rice mills that could serve as biomass sources, according to Rogers. It’s also in the process of signing customer offtake agreements, or a contractual commitment to buy carbon removal services at a predetermined price upon delivery. The first carbon blocks are expected to be produced by January 2024. The startup projects the project will have the capacity to remove 5,000 tons of CO2 per year by the end of 2023 and 50,000 by July of 2024.”
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