Carbon Removal Startup Graphyte Wins American Airlines As Its Inaugural Customer: Details

Carbon removal startup Graphyte signed its first agreement with American Airlines Group Inc AAL. The agreement consists of purchasing 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 monitoring to make carbon dioxide (CO2) removal quantifiable and permanent.

Compared to existing carbon removal approaches, Carbon Casting permanently removes and stores CO2 using less energy and lower cost.  

With its purchase of carbon removal credits from Graphyte, American aims to boost and scale the CO2 removal market.

"Hard to abate industries like aviation will need high-quality, permanent, affordable and scalable carbon credits – including removals -- to achieve our emissions reduction goals," said Jill Blickstein, Chief Sustainability Officer at American.

Price Action: AAL shares traded lower by 0.62% at $12.10 on Tuesday.