Oxy’s subsidiary 1PointFive is developing Carbon Engineering’s Direct Air Capture (DAC) technology at an industrial scale. 1PointFive's goal is to deliver solutions that help curb global temperature rise to 1.5°C by developing DAC facilities and sequestration hubs to capture and store CO2 captured from the atmosphere and from industrial facilities.

Oxy’s subsidiary Carbon Engineering is focused on continued innovation of its proprietary Direct Air Capture (DAC) technology at its Innovation Centre in Squamish, British Columbia, where the Carbon Engineering team introduces new materials, processes and technologies that can be tested, analyzed and validated for commercial rollout.

Oxy’s subsidiary TerraLithium is a lithium technology and development company that aims to build, own and operate lithium production facilities. With proprietary lithium extraction processes and world-class engineering and project development expertise, TerraLithium is working to commercialize a more sustainable lithium product.

Natural gas serves as a practical bridge between conventional and renewable energy. NET Power’s low-cost, near-zero-emission facilities will have the potential to deliver 24/7 dispatchable clean power that is cost effective with limited land use. Oxy’s investment in NET Power helps provide critical support for the commercialization of this near zero-emissions approach to natural gas power generation.

Carbon Finance Labs’ expertise at the intersection of carbon finance and technology keeps Oxy on the forefront of the emerging carbon markets. The company leverages new information technology, regulations and marketplaces to define transparent processes for carbon tracking that create exciting new markets for carbon products and services.

Oxy invested in Carbon Upcycling as part of our strategy to help accelerate CCUS technologies. Carbon Upcycling has pioneered a technology that captures and utilizes CO2 to create enhanced concrete materials with up to 60% reduction in carbon emissions with improved strength and durability.

Cemvita has reimagined CO2, leveraging it as a feedstock rather than treating it as a waste stream. Using microbes, Cemvita’s processes absorb and convert CO2 into essential molecules that can be used to produce oil, fertilizer, the building blocks of renewable energy, alcohols and enzymes. Oxy first invested in Cemvita in 2021, and has since made subsequent financial commitments, in order to help accelerate advancements of Cemvita’s innovative technology.

A CCUS company, LanzaTech has technology to turn CO2 into valuable products ranging from materials to ethylene and sustainable aviation fuels. LanzaTech is working to continue to scale production of CO2-based products for use in a circular economy. In 2022, Oxy invested in LanzaTech’s de-SPAC transaction, with a focus on our strategy to accelerate technologies for lower carbon fuels.

By harnessing the power of ocean microorganisms, Newlight has developed a technology to convert air and greenhouse gas emissions dissolved in salt water into PHB. This biomaterial, which they call AirCarbon, is a meltable, compostable material that can be used as a replacement for plastic, fiber and leather and is commercially available today. In connection with Oxy’s investment in Newlight in 2023, Oxy and Newlight agreed to explore ways to develop AirCarbon by using DAC systems to develop carbon dioxide feedstock.

As part of our methane management actions, Oxy and Climate Investment, an organization created by members of the Oil and Gas Climate Initiative in 2017 to fund investments in decarbonizing hard-to-abate sectors, began defining specifications for a methane management platform. These specifications were then used to inform the development of SensorUp’s Gas Emission Management Solution (GEMS), a data integration platform for methane leak detection and repair, measurement reconciliation, reporting, and verification of methane emissions.

Xpansiv provides a global marketplace for data-driven and transparent Environmental, Social and Governance (ESG)-inclusive commodity products. Oxy’s work with Xpansiv has enabled the launch of our first carbon-attributed, tradable oil and gas product that accounts for carbon intensity by incorporating emissions reductions from our carbon capture, utilization and storage operations.