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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.
Occidental Petroleum to buy Carbon Engineering as the fossil-fuel producer works to expand its removal of carbon dioxide from the atmosphere.
Direct air capture company’s research division to remain in Squamish
Warren Buffett-backed Occidental Petroleum agreed to buy Canadian startup Carbon Engineering Ltd. for US$1.1 billion. Read more
Nathan Rumsey, BRH executive director of business development and strategy, begins role Aug. 21.