T - Microsoft Teams Up with 1PointFive For Carbon Capture Deal: Details | Benzinga
1PointFive, a carbon capture, utilization, and sequestration (CCUS) unit of Occidental Petroleum (NASDAQ:OXY), has announced a significant agreement with Microsoft Corp (NASDAQ:MSFT) to sell 500,000 metric tons of carbon dioxide removal (CDR) credits over six years.
This agreement supports Microsoft’s carbon removal strategy and marks the largest single purchase of CDR credits enabled by Direct Air Capture (DAC) to date.
The CDR credits for Microsoft will be facilitated by STRATOS, 1PointFive’s first industrial-scale DAC facility currently under construction in Texas.
Microsoft, committed to becoming carbon negative by 2030, will have the captured carbon dioxide (CO2) securely stored through subsurface saline sequestration, ensuring it is not used for oil and gas production.
Brian Marrs, Senior ...