How 2 companies are approaching carbon capture [Video]

Recent climate reports have shown alarming trends as 2023 was confirmed as the hottest year on record and rising temperatures led to the loss of 1 million square kilometers of arctic ice in the last year.

As the Biden administration is committing nearly $4 billion toward jumpstarting a new carbon capture industry in the U.S., CBS News was given an inside look at two companies taking different approaches to process.

Graphyte is a startup that takes leftover material from timber and rice mills and turns it into bricks to be wrapped up and buried in the ground — for now, in a field in central Arkansas.

“We’re taking the carbon captured by plants and keeping it out of the atmosphere for a thousand years or more,” said Graphyte CEO Barclay Rogers.

Graphyte plans to turn an empty warehouse into the world’s largest carbon removal facility, eventually removing 50,000 tons of carbon dioxide a year — about the equivalent of taking …