Carbon removal startup Graphyte today announced that American Airlines will be its inaugural customer, with the purchase of 10,000 tons of permanent carbon removal to be delivered in early 2025. Graphyte utilizes a Carbon Casting approach to carbon removal, which dries and compresses biomass–such as residues from timber and farming operations–into dense carbon blocks, protected by an environmentally-safe, impermeable polymer…
Chemicals and materials science giant Dow announced its decision to move forward on Fort Saskatchewan Path2Zero, a $6.5 billion project to build the world’s first net zero Scope 1 and 2 emissions ethylene plant in Alberta, Canada. The project will see Dow build a new ethylene cracker and increasing polyethylene capacity by 2 million metric tons annually (MTA), as well…
Companies globally are making progress with their climate disclosures, both in terms of the number of businesses reporting on climate-related factors and the quality of the reporting, according to a new study released by global professional services firm EY, although the improvements are only “marginal,” and significant work remains to prepare for reporting against the new sustainability disclosure standards released…
A consortium led by Virgin Atlantic announced the successful completion of Flight100, the first ever transatlantic flight by a commercial airline using 100% sustainable aviation fuel (SAF). The flight, conducted on a Boeing 787 using Rolls-Royce Trent 1000 engines, originated in London’s Heathrow Airport, and landed at JFK Airport in New York on Tuesday evening, with Virgin Atlantic founder Richard…
M&G’s impact investing unit responsAbility Investments, together with Germany’s development bank KfW and the Dutch development bank FMO, announced the launch of new climate investment strategy, aimed at actively contributing to CO2 reduction in Asia through targeted investments in low-emission technologies, and seeking to mobilize $500 million in capital. According to responsAbility, the new strategy is being launched amidst an…
Tokyo-based banking and financial services company Mizuho announced today an investment in carbon marketplace and exchange Climate Impact X (CIX), and the launch of a new partnership with CIX aimed at scaling the international carbon credit market in Asia. Singapore-based CIX was launched in 2021 through a joint venture between DBS, Singapore Exchange (SGX), Standard Chartered and Temasek, aimed at…
Finnish-American climate solutions provider Carbo Culture announced today that it has raised $18 million, with proceeds aimed at advancing the deployment and commercialization of its biochar carbon removal technology. Founded in 2018, Carbo Culture transforms waste biomass using patented technology to permanently store carbon in a solid form as biochar. The company’s technology heats biomass waste at high temperatures in…
Hydrogen-electric aviation solutions startup ZeroAvia today announced that it has $116 million, with proceeds to be used to advance the company’s efforts to enable zero-emission commercial aviation. Founded in 2018 in California, ZeroAvia develops hydrogen electric engines for airplanes. It expects to offer engines to support a 300-mile range in 9–19 seat aircraft by the end of 2025, and up…