Japan, June 9 -- Sumitomo Corporation has agreed with Graphyte, Inc. ("Graphyte"), a U.S.-based startup in the decarbonization sector, to establish a joint venture company in the United States (the "Joint Venture") 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.Growing CDR Credit Market and Background of the Collaboration with GraphyteAmid the global trend toward decarbonization, intere...