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Getting climate, energy & environment news right.

Occidental plans up to $1 bln for facility to capture carbon from air

Sabrina Valle of Reuters reports that Occidental will build a $1 billion facility to capture carbon.

The C3 Take
  • Occidental will build the world’s largest direct air capture facility in Texas’ Permian Basin starting in 2024.
  • The company plans to capture up to 1 million tons of CO2 out of the air per year, which would be 100 times more carbon captured than the rest of the world’s current direct air capture facilities combined.
  • The private sector is voluntarily investing in and leading the way to a cleaner energy future.

“This year’s investments in the low carbon business will total $275 million, and the company plans to develop over time three carbon sequestration hubs that will be online by 2025 and another 69 smaller DAC facilities by 2035, it told investors.”

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.

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