Oxy Low Carbon Ventures, subsidiary of Occidental Petroleum, said recently it has acquired Holocene Climate Corp. of Knoxville, Tenn. Holocene owns liquid, low-temperature direct air capture technology that Occidental said is additive to technology acquired through Carbon Engineering in 2023 for about $1.1 billion. Occidental said combining the Carbon Engineering technology with Holocene’s technology “will enable us to advance our R&D activities (research and development) to improve the efficiency of our DAC capture process, reduce CO2 capture costs and accelerate DAC deployment.”
Holocene develops DAC technology and carbon removal services and harnesses organic chemistry to remove CO2 from the atmosphere.
Occidental and subsidiary 1PointFive are developing STRATOS, a DAC facility 14 miles from Odessa in Ector County designed to capture up to 500,000 tonnes of CO2 per year.