Page 2 - Daniel Friedmann News Today

Direct air capture company’s research division to remain in Squamish

Occidental Petroleum has worked with Carbon Engineering on direct air capture technology since 2019, and CEO Vicki Hollub said the technology partnership will add new revenue streams in the form of technology licensing and royalties.

Carbon management specialist Occidental has signed a definitive purchase agreement to acquire the outstanding equity of Carbon Engineering for approximately $1.1bn.

Acquiring Carbon Engineering aligns with Occidental’s integrated net-zero strategy and provides Occidental, through its 1PointFive subsidiary, the opportunity to rapidly advance DAC technology breakthroughs and accelerate deployment of DAC as a large-scale, cost effective, global carbon removal solution.

US oil producer agrees to snap up all outstanding shares in Canadian carbon removals technology developer with ambition to scaling DAC technology worldwide

The transaction will be made in three approximately equivalent annual payments.

HOUSTON, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced that a wholly owned subsidiary has entered into a definitive purchase agreement to acquire all the outstanding equity of Carbon

The Houston-based oil company says the deal will accelerate development of plants that remove vast volumes of carbon dioxide from the atmosphere

Direct air capture company’s research division to remain in Squamish

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