Carbon Engineering

Carbon Engineering (CE) has purchased 4.5 acres in Squamish, B.C. to build a Direct Air Capture (DAC) research and technology development facility, complementing its existing Innovation Centre. This new site, located 4.5 kilometers from the current centre, will more than double CE’s technology development space.

The expansion supports CE’s goal to reach 200 full-time employees by the end of 2024. Acquired by Occidental Petroleum for USD $1.1 billion last year, CE focuses on large-scale DAC technology to capture CO2 from the atmosphere.

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Squamish-based Carbon Engineering is being acquired by Occidental Petroleum for an astounding $1.1 billion, aimed at boosting direct-air-capture (DAC) technology.

Occidental revealed the acquisition of Carbon Engineering’s equity will occur through a subsidiary, with payments spread across three equal annual sums.

Collaborating since 2019, Occidental and Carbon Engineering share the vision of DAC deployment. The purchase aligns with Occidental’s net-zero approach, leveraging Carbon Engineering’s DAC solutions for global carbon removal. Carbon Engineering’s DAC processes, built on proven industrial equipment, will remain operational in Squamish under Oxy Low Carbon Ventures.

Carbon Engineering’s personnel will remain pivotal in advancing DAC technology, working closely with Occidental and 1PointFive for effective DAC implementation.

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