April 17, 2025 - 13:33
Occidental Petroleum has acquired Holocene Carbon, a direct air capture (DAC) startup located in Knoxville, Tennessee. This strategic purchase marks Occidental's second investment in DAC technology, underscoring the company's commitment to innovative solutions aimed at addressing climate change.
Holocene Carbon specializes in developing advanced technologies that efficiently capture carbon dioxide directly from the atmosphere. By integrating Holocene’s capabilities, Occidental aims to enhance its carbon management strategies and contribute to its goal of achieving net-zero emissions by 2050.
The acquisition reflects a growing trend within the energy sector to explore sustainable practices and technologies. As governments and organizations worldwide intensify efforts to combat climate change, companies like Occidental are recognizing the importance of investing in cutting-edge solutions that can significantly reduce greenhouse gas emissions.
In a statement, Occidental expressed optimism about the potential synergies between its existing operations and Holocene's innovative technology, paving the way for a more sustainable future in energy production.
