Reuters reports on Occidental’s plans to build a direct air capture project.
- U.S.-based Occidental has not publicly identified where the direct air capture plant will be in Texas, but has stated that it will be operational by 2024.
- The company is also looking to build a direct air capture hub in Louisiana.
- These investments will be key in reducing energy sector emissions and making direct air capture more economically attractive for other companies.
“Occidental’s Low Carbon Ventures LLC arm formed 1PointFive with venture capital firm Rusheen Capital Management to license, finance and deploy direct air capture (DAC) technology, a method of extracting carbon dioxide from the atmosphere.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
