Sumitomo and Graphyte launch JV to develop CO2 removal business
In Japan, Sumitomo Corporation has agreed with Graphyte, Inc., to establish a joint venture company in the United States to develop a Carbon Dioxide Removal (CDR) business. Sumitomo Corporation will hold a 49% equity stake in the Joint Venture, while Graphyte will hold the remaining 51% stake. Graphyte operates a business that generates and sells CDR credits through Biomass Carbon Removal & Storage (BiCRS). Through the Joint Venture, Sumitomo Corporation and Graphyte will jointly develop and promote the CDR credit business.
Category: Fuels
