Carbon Engineering Ltd. (CE), a Canadian clean energy company, has received equity investment from two global energy companies: Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental Petroleum Corporation; and Chevron Technology Ventures (CTV), the venture capital arm of Chevron Corporation.
These investments will accelerate the commercialisation of CE’s proven Direct Air Capture (DAC) technology that removes carbon dioxide (CO2) directly from the air.
This announcement highlights the first significant collaboration between a DAC developer and the energy industry, with two global energy leaders investing in DAC as a mechanism to reduce emissions from transportation and enable permanent capture of existing atmospheric CO2 that can be utilised both in oil production and in direct synthesis of fuels.
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