Reported 27 days ago
Occidental Petroleum's carbon capture unit, 1PointFive, has secured up to $500 million from the U.S. Department of Energy to develop its Direct Air Capture Hub in South Texas. This hub, also backed by BlackRock, is part of a significant push towards decarbonization, with an initial capacity of 500,000 metric tons of CO2 per year, potentially increasing to over one million metric tons. The funding could rise to $650 million to support a broader regional carbon network.
Source: YAHOO