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The plant under construction is expected to capture up to 500,000 metric tonnes of carbon dioxide per year with the capacity to scale up to 1 million metric tonnes per year.
Acquisition gives Occidental an edge in what promises to be a major new industry. Read more
The US$1.1-billion deal will see Squamish, B.C.-based Carbon Engineering Ltd. become a wholly owned subsidiary of Oxy Low Carbon Ventures, an Occidental company that is investing in a range of new emissions-reduction technologies.
The thin white clouds that have drawn outlandish conspiracy theories could soon be a thing of the past
A Canadian company that is pioneering the use of direct air capture technology to remove carbon dioxide directly from the atmosphere has been acquired by U.S. oil company Occidental Petroleum.