Occidental Petroleum and Chevron invest in direct air carbon capture and synthetic fuels company Carbon Engineering

By mmillikin Canada-based Carbon Engineering Ltd. (CE) 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 commercialization of CE’s proven Direct Air Capture (DAC) technology that removes CO2 directly from the air and subsequently synthesizes it into clean transportation fuels.

The investments mark 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

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