1PointFive, a wholly owned subsidiary of Occidental Petroleum, is a carbon capture, utilization and sequestration (CCUS) company working to help curb global temperature rise to 1.5°C by 2050 through the deployment of decarbonization solutions, including Carbon Engineering's direct air capture (DAC) and AIR TO FUELS™ technologies alongside geologic sequestration hubs.
Amazon’s agreement is the technology industry’s largest agreement with Occidental Petroleum subsidiary 1PointFive.
Occidental Petroleum is taking a multibillion-dollar leap into direct air capture (DAC), recently inking a $1.1 billion deal to acquire technology partner Carbon Engineering. But can the company bring down costs for its DAC dreams?
The operator is working with Amazon Web Services to migrate to the cloud in order to reduce capex and gain access to software-defined technology.
The demonstration projects aim to kickstart and advance development of the nation’s first two commercial-scale DAC facilities.