Page 162 - CW E-Magazine (5-9-2023)

News from Abroad

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Occidental to acquire direct-air capture technology

firm, Carbon Engineering

US-based energy firm, Occidental, accelerated DAC cost reductions. The global partnerships and cross-indus-
has announced that a wholly-owned technology partnership also adds new try collaboration would be required to
subsidiary has agreed to acquire all the revenue streams in the form of techno- deploy DAC infrastructure at the scale
outstanding equity of Canadian clean logy licensing and royalties,” said Occi- required to make a climate-relevant
energy firm, Carbon Engineering, for dental President and CEO, Ms. Vicki impact. Carbon Engineering and Occi-
about $1.1-bn. Hollub. “Together, Occidental and Car- dental have been working increasingly
bon Engineering can accelerate plans to close together for the past five years
Occidental has been working with globally deploy DAC technology at a to address the CO problem, making
2
Carbon Engineering on direct air cap- climate-relevant scale and make DAC Occidental a trusted and committed
ture (DAC) deployment since 2019. the preferred solution for businesses partner for this next chapter in Carbon
The company said the acquisition aligns seeking to remove their hard-to-abate Engineering’s journey,” said Carbon
with its integrated net-zero strategy emissions,” she added. Engineering CEO, Mr. Daniel Fried-
and through its 1PointFive subsidiary, mann.
provides the opportunity to rapidly Upon closing, Carbon Engineering
advance DAC technology breakthroughs would become a wholly-owned subsi- 1PointFive is building Stratos, the
and accelerate deployment of DAC diary of Oxy Low Carbon Ventures. Car- world’s largest DAC plant, which is ex-
as a large-scale, cost effective, global bon Engineering’s personnel will conti- pected to be commercially operational
carbon removal solution. Carbon Engi- nue to drive ongoing DAC technology in mid-2025, in Ector County, Texas
neering’s DAC-based climate solutions development efforts and work closely (USA). Occidental and Carbon Engi-
utilise standardised processes and with the Occidental and 1PointFive neering are also adapting Stratos’ front-
proven industrial equipment. teams to bring DAC solutions to market. end engineering and design study for a
Carbon Engineering’s R&D activities DAC plant to be built at King Ranch
“We expect the acquisition of Car- and Innovation Centre will remain in in Kleberg County, which is part of the
bon Engineering to deliver our share- Squamish, British Columbia (Canada). South Texas DAC Hub that was selec-
holders value through an improved ted to receive a grant from the US
drive for technology innovation and “We have always believed that government.

LyondellBasell licenses technology to Chinese firm

for new EVA line

Chemicals major, LyondellBasell,
has announced that Jiangsu Fenghai
High-Tech Materials has selected its
‘Lupotech T’ high-pressure polyethy-
lene technology for a new production
site. The process technology will be
used for a 200-ktpa ethylene vinyl ace-
tate copolymer (EVA) line, located in EVA production,” said Mr. Neil Nadalin, will enable Jiangsu Fenghai to support
Lianyungang, Jiangsu Province, China. Director Global Licensing and Ser- driving this transition,” he added. More
vices at LyondellBasell. “The on-going, than 15-mtpa of LDPE/EVA produc-
“This latest award once again global energy transition requires tion capacity based on the ‘Lupotech
demonstrates that our ‘Lupotech T’ special EVA and LDPE resins for T’ process has been licensed by Lyon-
high-pressure process continues to be use in solar cell production and other dellBasell in over 70 lines around the
the process technology of choice for applications, and this new license award world.

162 Chemical Weekly September 5, 2023

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