Proactive Investors , November 16,2022
By Phillip Whiterow
i(x) Net Zero portfolio company, Carbon Engineering, has signed an agreement with its US development partner 1PointFive for Direct Air Capture (DAC) facilities at a second site in the US, in Kleburg County, Texas.
Carbon Engineering’s DAC technology removes carbon dioxide directly from the atmosphere for sequestration and storage.
The site in Kleburg County is expected to provide access for the potential construction of multiple DAC facilities that would be capable of collectively removing up to 30mln tonnes of carbon dioxide annually.
In addition, 1PointFive and its parent company, Occidental (NYSE: OXY) have started early site construction of its first large-scale DAC plant in Ector County, Texas.
Steve Oyer, i(x) Net Zero’s chief executive. said: “Carbon Engineering and its partners are pioneering the systems and processes necessary for large-scale, commercially viable carbon capture.
“Carbon capture technology is a crucial decarbonisation solution and is helping to support the global move towards a net-zero economy.”
Daniel Friedmann, Carbon Engineering’s chief executive, added: “Working hand in hand with our partners at Occidental and 1PointFive, we’ve been focused on building an accelerated deployment approach, while simultaneously beginning construction of the first, large-scale commercial facility in Texas.
“Now, with this ‘copy and paste’ megatonne DAC facility, we’re working towards widespread, multi-million-tonne deployments across the US”.