Occidental completed the acquisition of Carbon Engineering from i(x) Net Zero for $1.1bn.

Occidental, an international energy company, completed the acquisition of Carbon Engineering, a climate solutions company, from i(x) Net Zero, the investing company that focusses on Energy Transition and Sustainability in the Built Environment, for $1.1bn. “We expect the acquisition of Carbon Engineering to deliver our shareholders value through an improved drive for technology innovation and accelerated DAC cost reductions. The technology partnership also adds new revenue streams in the form of technology licensing and royalties. Importantly, the acquisition enables Occidental to catalyze broader development partnerships for DAC deployment in the most capital efficient and valuable way,” Vicki Hollub, Occidental President and CEO.