Financial Buzz: Oxy Low Carbon Ventures and Carbon Engineering begin engineering of the worlds largest Direct Air Capture and sequestration plant
„Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental, and Carbon Engineering Ltd. (CE), a Canadian clean energy company, today announced they are jointly proceeding with the engineering and design of the world’s largest Direct Air Capture (DAC) and sequestration facility. The companies are evaluating a facility designed to capture 500 kilotonnes of carbon dioxide (CO2) directly from the atmosphere each year, which would be used in Occidental’s enhanced oil recovery (EOR) operations and subsequently stored underground permanently. The plant would be located in the Permian Basin.“