1PointFive Announces Agreement to Sell 500,000 Metric Tons of Direct Air Capture Carbon Removal Credits to Microsoft
2024年7月9日 - 9:00PM
1PointFive, a carbon capture, utilization and sequestration (CCUS)
company, today announced it has entered into an agreement with
Microsoft to sell 500,000 metric tons of carbon dioxide removal
(CDR) credits over six years to support Microsoft’s carbon removal
strategy. The agreement is the largest single purchase of CDR
credits enabled by Direct Air Capture (DAC) to date and highlights
the increasing adoption of this climate technology as a solution to
help organizations achieve net-zero emissions.
The CDR credits for Microsoft will be enabled by
STRATOS, 1PointFive’s first industrial-scale DAC facility currently
under construction in Texas. Under the terms of the agreement with
Microsoft, which has committed to becoming carbon negative by 2030,
the captured carbon dioxide (CO2) underlying the credits will be
securely stored through subsurface saline sequestration and will
not be used to produce oil and gas. Direct Air Capture provides a
transparent and durable way to address emissions on a large scale,
particularly from hard-to-abate industries.
“We are excited about this landmark agreement
for Direct Air Capture, which is a result of Microsoft’s leadership
in carbon removal and focus on building a more sustainable future,”
said Michael Avery, President and General Manager of 1PointFive. “A
commitment of this magnitude further demonstrates how one of the
world’s largest corporations is integrating scalable Direct Air
Capture into its net zero strategy. Energy demand across the
technology industry is increasing and we believe Direct Air Capture
is uniquely suited to remove residual emissions and further climate
goals.”
“We’re very pleased to announce this deal with
1PointFive, a pioneer in the Direct Air Capture space, which is
building the largest DAC project worldwide. To achieve the gigatons
of removals needed this century, first-of-a-kind projects like
STRATOS are essential to move from pilots to scale. DAC plays an
important role in Microsoft’s carbon removal portfolio supporting
our broader goal of becoming carbon negative by 2030,” said Brian
Marrs, Senior Director for Carbon Removal and Energy at
Microsoft.
About
1PointFive 1PointFive is a Carbon Capture,
Utilization and Sequestration (CCUS) company 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 and AIR TO FUELS™ solutions
alongside geologic sequestration hubs. Visit 1PointFive.com for
more information.
AIR TO FUELS™ is a registered trademark of
Carbon Engineering ULC.
Cautionary Statement Regarding
Forward-Looking Statements This news release contains
“forward-looking statements” within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995, including those relating to the agreement’s benefits and
related impact on carbon emissions and Occidental’s (NYSE: OXY) and
its subsidiaries' deployment and use of DAC technology, which are
based on Occidental’s current expectations, beliefs, plans,
estimates, and forecasts. All statements other than statements of
historical fact are forward-looking statements for purposes of
federal and state securities laws. Words such as “believe,” “will,”
“may,” “expect,” “plan,” or similar expressions that convey the
prospective nature of events or outcomes are generally indicative
of forward-looking statements. You should not place undue reliance
on these forward-looking statements, which speak only as of the
date of this news release. Unless legally required, Occidental does
not undertake any obligation to update, modify, or withdraw any
forward-looking statements as a result of new information, future
events, or otherwise.
These statements are not guarantees of future
performance as they involve assumptions that may prove to be
incorrect, and risks and uncertainties, including those that are
beyond Occidental’s control. Factors that may cause actual results
to differ materially from forward-looking statements include
Occidental’s ability to access necessary technology, to develop and
employ existing or new technology on a commercial scale, to access
capital, to collaborate with third parties and customers, and to
receive approvals from regulatory bodies, as well as market
conditions, geopolitical events, and scientific developments.
Additional factors that may affect Occidental’s and its
subsidiaries' ability to deploy DAC technology can be found in
Occidental’s public disclosure and its filings with the U.S.
Securities and Exchange Commission (SEC), which may be accessed at
Occidental’s website at oxy.com or the SEC’s website at sec.gov.
Information included herein is not necessarily material to an
investor in Occidental’s securities.
Contacts
1PointFive - Media |
1PointFive - Investors |
Eric Moses +1 713-497-2017 eric_moses@oxy.com |
R. Jordan Tanner +1
713-552-8811 investors@oxy.com |
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