Stratos
From Global Energy Monitor
Stratos is a direct air capture plant being built in Ector County, Texas by 1PointFive, a subsidiary of Occidental Petroleum Corporation (Oxy). Funded for $550 million by BlackRock, one of the world’s biggest asset management companies, the Stratos plant is expected to be operational by mid-2025.[1] Once fully operational, 1PointFive says it will be able to remove 500,000 tons of carbon dioxide from the air annually. The company expects to make money through the sale of carbon credits to companies including Amazon and Airbus.[2]
References
- ↑ BlackRock to invest $550 mln in Occidental's carbon capture project," Reuters, November 7, 2023. Accessed July 8, 2024.
- ↑ Kristin Houser, "BlackRock invests $550M in world’s largest direct air capture plant," Freethink.com, November 14, 2023. Accessed July 8, 2024.
| This article is a stub. You can help by expanding it. |
