Published by Todd Bush on August 15, 2023
HOUSTON, Aug. 11, 2023 (GLOBE NEWSWIRE) -- 1PointFive, a wholly owned subsidiary of Occidental, announced today it was selected to receive a grant from the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) for the development of its South Texas Direct Air Capture (DAC) Hub. The hub, to be located on the King Ranch in Kleberg County, is expected to include the world's first DAC plant designed to remove up to 1 million metric tons of CO2 per year.
The selection enables 1PointFive to enter award negotiations with OCED and work in partnership to establish the South Texas DAC Hub. OCED funding will support 1PointFive's development of the DAC Hub through the advancement of planning, detailed design, environmental permitting and procurement of long-lead equipment.
>> RELATED: Oxy and 1PointFive Start Construction on Permian DAC Plant
'We appreciate the U.S. Department of Energy's leadership to advance Direct Air Capture and look forward to our partnership to deploy this vital carbon removal technology at climate-relevant scale and establish the United States and 1PointFive as global leaders in demonstrating the commercial viability of DAC,' said President and CEO Vicki Hollub. 'We believe this selection validates our readiness, technical maturity and the ability to use Oxy's expertise in large projects and carbon management to move the technology forward so it can reach its full potential.'
1PointFive's lease agreement for the South Texas DAC Hub with King Ranch covers approximately 106,000 acres of pore space estimated to accommodate up to 3 billion metric tons of CO 2 in saline formations. 1PointFive estimates that the Hub has the potential to remove and store up to 30 million metric tons of CO 2 per year through DAC. The property is located near industrial emitters on the Texas Gulf Coast, where CO 2 also can be captured, transported and securely sequestered at the Hub.
1PointFive, along with its partners Carbon Engineering and Worley, is working on the front-end engineering and design for the first DAC plant slated for the South Texas Hub. The design is being adapted from Stratos, 1PointFive's first commercial-scale DAC plant under construction in the Permian Basin. Preparations are underway to drill test wells at the South Texas Hub site to gather geologic data required to obtain a Class VI well permit to safely sequester CO2.
>> In Company Spotlight:
1PointFive will also establish programs to serve the local communities under its Community Benefits Plan, which promotes local hiring, workforce development opportunities, educational initiatives and community engagement and investment to further support equity, justice and quality job creation in the region. The first DAC plant at the South Texas DAC Hub is expected to create approximately 2,500 jobs in construction, operations and maintenance.
Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Our Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. We are committed to using our global leadership in carbon management to advance a lower-carbon world. Visit oxy.com for more information.
1PointFive is a Carbon Capture, Utilization and Sequestration (CCUS) platform that is 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. More at 1PointFive.com.
AIR TO FUELS™ is a registered trademark of Carbon Engineering Ltd.
The U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) was established to accelerate clean energy technologies and fill a critical innovation gap on the path to achieving our nation's climate goals of net zero emissions by 2050. OCED's mission is to deliver clean energy demonstration projects at scale in partnership with the private sector to accelerate deployment, market adoption, and the equitable transition to a decarbonized energy system. Visit energy.gov/oced to learn more.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue ✈️ CORSIA Transforms Aviation Compliance Into Market Gold Rush 📉 IEA Cuts 2030 Low-emissions Hydrogen Production Outlook by Nearly a Quarter 🎤 GenH2 Executive Chairman Josh McMor...
Inside This Issue 🌍 Global Hydrogen Industry Surpasses USD 110 Billion In Committed Investment As 500+ Projects Worldwide Reach Maturity ♻️ Cielo Advances Waste-to-Fuel Innovation with Project Nex...
Inside This Issue 🏭 CF Industries Flips Switch on Massive CCS Hub That Changes Everything 🧴 Scientists Transform Plastic Waste Into Efficient CO2 Capture Materials ⚡ SHS Group and Verso Energy Sig...
Live Session will Explore Liquid Hydrogen Infrastructure for Aviation TITUSVILLE, FL, UNITED STATES, September 12, 2025 /-- GenH2 Corp., a Path2 Hydrogen Company, a leader in liquid hydrogen infra...
Achieved target ethanol purity of over 99.5vol% at a pilot plant in the Nagasaki District Research & Innovation Center Reduced energy consumption significantly and achieved compact equipme...
Hanwha Power Systems has received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for the ammonia fuel gas turbine conversion design aimed at 174K LNG carriers at Gastech 202...
Alléo Energy Unveils Carbon-Negative Green Hydrogen System
Alléo cellulosic waste to hydrogen conversion facility BAY MINETTE, Ala.-- Alléo Energy, a pioneer in sustainable energy solutions, today announced a cellulose-to-hydrogen process yielding over on...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.