GRAPHYTE ANNOUNCES WORLD'S FIRST PERMANENT, AFFORDABLE, AND SCALABLE CARBON REMOVAL SOLUTION

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Nov 13, 2023, 07:00 ET

Carbon Casting technology can remove billions of tons of CO2 at under $100/ton

MEMPHIS, Tenn., Nov. 13, 2023 /PRNewswire/ -- Graphyte, a startup backed by Breakthrough Energy Ventures, today announced a new carbon dioxide removal approach that is permanent, affordable, and immediately scalable. "Carbon Casting" is the first technology that can permanently remove billions of tons of carbon dioxide (CO2) for 1,000+ years at under $100/ton.

Graphyte developed the Carbon Casting technology to address the need for scalable carbon removal in order to change the trajectory of climate change. The Intergovernmental Panel on Climate Change (IPCC) estimates that 5 to 10 billion tons of carbon dioxide needs to be removed from the atmosphere annually by 2050. Today, the world produces less than 0.001% of the needed carbon removal because many existing technologies face significant obstacles. Some approaches do not remove carbon for climate-relevant timescales; others are too expensive and require too much energy; almost all face various technical challenges on their path to scale.

"The Graphyte story starts with a problem: we aren't removing enough carbon from the atmosphere to stop climate change, and current solutions face significant hurdles," said Barclay Rogers, CEO of Graphyte. "We need a solution that can scale immediately without using a lot of energy. Carbon Casting lets photosynthesis do the work of capturing carbon and then applies engineering to ensure it remains stored permanently. Carbon Casting can remove billions of tons of CO2 from the atmosphere at an affordable price starting now, delivering a much-needed solution to combat climate change."

Graphyte overcomes the key challenges to large-scale carbon dioxide removal. First, Carbon Casting is durable. Graphyte removes carbon from the atmosphere for over 1,000 years. Second, Carbon Casting is affordable. Levelized production costs are below $100 today, achieving cost targets widely deemed necessary to support purchasing durable carbon removals at scale. Third, Carbon Casting is scalable. Graphyte stands ready to scale today and does not require large amounts of energy, depend on uncertain technical breakthroughs, require major pipelines, or face similar obstacles.

Carbon Casting enables farmers and foresters to be part of the climate solution by transforming their readily available biomass into part of the climate solution. These wood by-products and crop residues would otherwise be burned or left to decompose.

"By combining the strength of nature-based approaches with the lasting impact of engineered removal, Graphyte has created a unique solution that accelerates progress toward the billions of tons of carbon removal needed to protect our planet," said Carmichael Roberts of Breakthrough Energy Ventures. "As we work to accelerate the clean energy transition, Carbon Casting provides an opportunity to deliver higher volumes of permanent removals at an affordable price today."

Graphyte seamlessly fuses nature's ability to capture carbon with the reliability and durability of engineering, setting a new standard for optimal carbon dioxide removal. Additional details on Carbon Casting can be found at Graphyte.com.

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 www.Graphyte.com to learn more.

About Breakthrough Energy Ventures (BEV)
Backed by many of the world's top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.

BEV is a part of Breakthrough Energy, a network of investment vehicles, philanthropic programs, policy advocacy and other activities committed to scaling the technologies we need to reach net-zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.

SOURCE Graphyte