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illuminem summarizes for you the essential news of the day. Read the full piece on E&E News or enjoy below:
🗞️ Driving the news: Graphyte, a Bill Gates-backed startup, is launching what could be the world's largest carbon removal facility in southern Arkansas, using biomass bricks made from carbon-rich sawdust to sequester carbon underground
🔭 The context: The Loblolly facility aims to remove 15,000 metric tons of CO2 from the atmosphere by the end of this year, with plans to increase capacity to 50,000 tons in 2025, positioning Graphyte as a leading force in the carbon removal industry
🌍 Why it matters for the planet: As the need to scale up carbon removal technologies becomes increasingly urgent to combat global warming, Graphyte's innovative approach offers a cost-effective and scalable solution to sequester carbon, contributing significantly to climate change mitigation efforts
⏭️ What's next: The carbon removal field is highly competitive, with companies like Charm Industrial, Climeworks, and Occidental Petroleum developing technologies to capture CO2. Graphyte's rapid deployment and low-cost services could set a new standard for the industry
💬 One quote: “Our sales price is $100 a ton. We are selling at that price profitably,” said Barclay Rogers, CEO of Graphyte, highlighting the company's efficient and cost-effective carbon removal process
📈 One stat: Graphyte's facility, a $10 million investment, contrasts sharply with other high-cost carbon capture projects, showcasing an affordable path to substantial carbon removal.
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