- $90M+ Investment: JPMorganChase will buy 450,000 mtCO₂e over 13 years at < $200/ton—one of the lowest rates for engineered CDR to date.
- Industry Revitalization: The agreement supports a scalable retrofit model for U.S. pulp and paper mills, opening a multi-billion-dollar market for biogenic CO₂ removal.
- High-Quality CDR at Scale: CO280’s projects are third-party verified, offering permanent carbon removal aligned with top MRV standards.
JPMorganChase has signed a carbon dioxide removal (CDR) offtake agreement with CO280, marking a major investment in scalable, low-cost engineered carbon removal from the U.S. pulp and paper industry.
The bank will purchase 450,000 metric tons of CO₂ equivalent from a CO280 project over 13 years, at a price under $200 per ton. The captured carbon will be permanently stored underground after being removed from biogenic emissions at a U.S. Gulf Coast pulp and paper mill.
“We’re thrilled to continue to help speed and scale the growth and development of CDR technologies with this latest offtake,” said Taylor Wright, Head of Operational Decarbonization at JPMorganChase. “CO280’s ability to provide near-term, affordable removals at scale is a key catalyst for making high-quality, engineered CDR available to a wider range of buyers.”
CO280 retrofits mills to capture CO₂ from boiler stacks, partnering with pulp and paper companies to develop a projected 10-million-ton-per-year network of carbon removal projects. SLB Capturi will supply the capture technology.
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“By retrofitting mills to deliver permanent, high-quality CDR at the lowest cost, we’re transforming the economics of the pulp and paper industry,” said Jonathan Rhone, co-founder and CEO of CO280. “Enhancing mill productivity and profitability could also help secure jobs for U.S. forestry workers and sustain the vitality of forest communities for decades to come.”
The deal builds on a 2023 memorandum of understanding between the companies and underscores growing investor confidence in CO280’s model, which aims to make CDR profitable, bankable, and scalable.
“This landmark agreement with JPMorganChase is a testament to the bank’s extraordinary leadership,” said Natalie Khtikian, co-founder and Chief Commercial Officer of CO280. “From the beginning they understood our vision to deploy CCS to create value for investors and the people who live and work in mill communities.”
The U.S. pulp and paper industry—which supports nearly 7 million direct and indirect jobs and contributes 5% of U.S. manufacturing GDP—stands to benefit from billions in investment and a boost in global competitiveness as CO280 scales.
All CO280 projects adhere to strict third-party verification processes and follow industry-leading MRV standards, ensuring each carbon credit reflects true environmental and financial impact.
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