One of our main goals is to implement a Carbon Neutral Energy Cycle which mimics the natural carbon cycle by pulling CO2 directly from the atmosphere to be sequestered—at an industrial scale. This allows us to permanently store captured CO2 in geologic formations in an amount equal to that which is emitted through the production, processing and combustion of oil and fuels.
This cycle starts with capturing CO2 from the atmosphere via Direct Air Capture (DAC) or industrial sources. The CO2 is then injected into a producing oil and gas reservoir. The CO2 displaces oil and gas trapped in the rock and moves it toward a producing oil and gas well, while permanently trapping the CO2 underground. Depending on the production cycle, this process can produce low, neutral or even carbon negative oil by sequestering an amount of CO2 equal to or greater than that which is emitted.
Known as Enhanced Oil Recovery (EOR), this process has been practiced for decades in order to increase reservoir productivity. However, many operators, scientists and policymakers alike have realized the huge potential of this process to reduce human-made CO2 emissions associated with oil production to create lower carbon oil.
Operators like Occidental are now able to use existing CO2 separation, transportation and injection infrastructure to capture and sequester human-made CO2 for Carbon Neutral Production operations.
This cycle is central to Oxy Low Carbon Venture’s projects as we aim to capture, transport and store CO2 to create a variety of less carbon-intensive products like chemicals, oil and fuels, while counteracting the emissions associated with oil production and fuel combustion.
We have partnered with Carbon Engineering to deliver Direct Air Capture (DAC) on an industrial scale. DAC technology pulls CO2 directly from the atmosphere and delivers it in a pure, compressed form so it can be used in processes like enhanced oil recovery to create carbon-neutral oil or permanent carbon removal through carbon sequestration. DAC technology allows for collection of atmospheric CO2, making it a key solution for addressing difficult to capture, and historical, emissions.
1PointFive’s mission is to become the leading developer of Direct Air Capture facilities worldwide. A partnership between Oxy Low Carbon Ventures and Rusheen Capital Management, the company merges Occidental's leadership in carbon management and carbon dioxide storage with the commercialization prowess and carbon-to-value vision of Rusheen. The company’s vision is to leverage these unique strengths to deliver Carbon Engineering's Direct Air Capture technology on an industrial scale throughout the United States.
This natural gas power plant puts carbon capture technology at the center of its design, generating electricity with ZERO emissions—allowing for a reliable, low-cost electricity that requires 80x less acreage than equivalent solar facilities.
All of the CO₂ captured in a NET Power plant can be used for other processes such as carbon-neutral oil production or product development for plastics, chemicals, cement and more. A first-of-its-kind, 50MW demo plant is located in La Porte, Texas, near Houston. We anticipate full-scale commercialization of NET Power plants to be a game changer for CO₂ emission reduction—while providing reliable power 24 hours a day, all year long.
The Clean Campus has recently moved from concept to creation.
The front-end engineering and design study is underway for our first Direct Air Capture (DAC) plant. When construction is complete, it will be the largest facility-of-its-kind in the world. This campus will combine carbon dioxide sourced by DAC and NET Power's zero-emission power with carbon-neutral production operations to ultimately yield carbon-neutral fuels. This net-neutral industrial campus will also provide a location for startups to access zero-emission power and carbon dioxide and a place for them to demonstrate their technology, innovate, test new ideas and ultimately, commercialize them.
Carbon Finance Labs’ partnership with Oxy Low Carbon Ventures creates opportunities in the emerging carbon commodity and carbon-neutral fuels market. The team believes that as CCUS projects gain traction, there will be a need for defined, accepted, and transparent processes of carbon tracking in order to open new markets for Oxy products. With extensive finance and technology expertise, Carbon Finance Labs' team leverages new information technology, updated regulations, and marketplaces to craft solutions that create entirely new high-value carbon products and services.
Oxy Low Carbon Ventures is partnering with XCHG to launch its first carbon-attributed, tradeable oil and gas product that accounts for its carbon intensity by incorporating emissions reductions from our carbon capture, utilization and sequestration operations. XCHG is providing a global marketplace for data-driven, environmental, social and governance (ESG)-inclusive commodity products. Their platform enables real-time data, sourced from a commodity’s lifecycle, and converts into Intelligent Commodities™—digital assets that enable transactions based on comprehensive, ESG-aligned information. Building on their leading position in renewable energy, carbon and water markets, XCHG is leveraging their experience to create new commodity products and markets linking suppliers with consumers seeking transparency on ESG factors. This gives market participants the ability to make informed decisions based on real-time data and transparent pricing that are aligned with their priorities.
This first-of-its-kind, cross-industry partnership utilizes 45Q tax credits to accelerate carbon capture infrastructure development, reduce CO2 emissions and permanently store CO2 through geologic sequestration. This project will capture CO2 emissions from two of White Energy’s ethanol plants in Hereford and Plainview, Texas. Captured CO2 will then be transported to Occidental's west Seminole enhanced oil recovery field for injection and sequestration to create carbon-neutral oil. For White Energy, the removal of CO2 emissions from their operations also reduces the carbon intensity of the ethanol they produce.
This solar facility powers Occidental’s EOR operations in Goldsmith, Texas, where we installed a 16.8MW solar plant.
Located in the Permian Basin, the Goldsmith solar facility lowers the carbon intensity of our operations, which require large amounts of electricity to inject and store CO2. We are also planning other solar projects and exploring additional renewable power purchases in the Permian.
We have identified over 50 industrial CO2 emitters that qualify for 45Q tax credits with operations in Minnesota, Iowa, Nebraska, Kansas, Oklahoma and Texas.
We plan to capture their emitted CO2 and build a pipeline to transport it to the Permian Basin where we have existing infrastructure to inject and permanently sequester the CO2 underground. This project is expected to capture and store over 40 million tons of CO2 per year—the equivalent of more than 6 million passenger car emissions.
As more CO2 capture facilities are installed at industrial facilities, we are finding ways to separate CO2 in an efficient and cost-effective way.
Today, it takes multiple energy intensive operations to separate CO2 from other gases and products. We're teaming up with membrane technology suppliers to improve the performance of membranes, reducing the amount of equipment required, the carbon intensity of the process and the capital expense—allowing more facilities around the world to implement the technology.
This Houston-based biotech startup has developed technologies for a CO2 utilization platform that mimics photosynthesis, using CO2 as feedstock to produce industrial chemicals and polymers. By commercializing these new bioengineered pathways for CO2, we can harness the power of nature to turn CO2 from a waste product into a valuable feedstock that can be used to create sustainable products.
TerraLithium has developed an ultra-pure lithium production technology that extracts lithium salts from subterranean brine in California and other parts of the world. This technology can be tied to geothermal plants and is an alternative, environmentally friendly form of lithium extraction that yields a more pure form of the element, resulting in longer life for lithium ion batteries. TerraLithium supports both the decarbonization of electricity and more sustainable processes for electric vehicle battery development.