{"id":6174,"date":"2025-05-20T06:46:18","date_gmt":"2025-05-20T10:46:18","guid":{"rendered":"https:\/\/sdgnews.com\/?p=6174"},"modified":"2025-05-20T06:46:21","modified_gmt":"2025-05-20T10:46:21","slug":"oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech","status":"publish","type":"post","link":"https:\/\/sdgnews.com\/ar\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\/","title":{"rendered":"Oxy and ADNOC Group Target $500M DAC Deal to Boost U.S. Climate Tech"},"content":{"rendered":"<p><strong>Key Impact Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>$500M investment under evaluation:<\/strong> XRG may invest up to $500 million in 1PointFive\u2019s Direct Air Capture (DAC) facility to remove 500,000 tonnes of CO\u2082 annually.<\/li>\n\n\n\n<li><strong>Strategic U.S.-UAE energy partnership:<\/strong> Deal deepens cooperation between Occidental and ADNOC during Trump\u2019s state visit to the UAE.<\/li>\n\n\n\n<li><strong>South Texas DAC Hub gains momentum:<\/strong> Supported by a $650 million DOE award, the hub could eventually store up to 3 billion tonnes of CO\u2082.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-joint-venture-targets-large-scale-carbon-removal\">Joint Venture Targets Large-Scale Carbon Removal<\/h3>\n\n\n\n<p>Occidental and ADNOC\u2019s investment arm, XRG, have signed a Strategic DAC Framework Agreement to explore a joint venture to build a Direct Air Capture (DAC) facility in South Texas. The project would be developed by Occidental subsidiary 1PointFive.<\/p>\n\n\n\n<p>XRG is considering investing up to $500 million in the facility, which is designed to capture 500,000 tonnes of CO\u2082 annually.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-announced-during-trump-s-uae-visit\">Announced During Trump\u2019s UAE Visit<\/h3>\n\n\n\n<p>The agreement was signed by <strong>Occidental President and CEO Vicki Hollub and ADNOC Group CEO Dr. Sultan Ahmed Al Jaber<\/strong> during U.S. President Donald Trump\u2019s state visit to the UAE.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are proud to advance our decades-long partnership with ADNOC and XRG on our South Texas DAC Hub, which we believe will deliver game-changing technology to support U.S. energy independence and global goals,\u201d said Hollub.<\/p>\n\n\n\n<p>\u201cAgreements like this, along with U.S. DOE support, demonstrate continued confidence in DAC as an investable technology that can create jobs and economic value in the United States and Texas.\u201d<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-federal-support-and-strategic-location\">Federal Support and Strategic Location<\/h3>\n\n\n\n<p>The U.S. Department of Energy recently awarded up to $650 million to support the development of the South Texas DAC Hub. The facility will be located on King Ranch in Kleberg County, Texas, spanning 165 square miles and offering long-term CO\u2082 storage potential of up to 3 billion tonnes.<\/p>\n\n\n\n<p>The site\u2019s proximity to U.S. Gulf Coast industrial infrastructure allows captured CO\u2082 to be utilized or stored in geologic formations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-strengthening-u-s-uae-energy-ties\">Strengthening U.S.-UAE Energy Ties<\/h3>\n\n\n\n<p>The move builds on Occidental and ADNOC\u2019s 2023 memorandum of understanding to collaborate on carbon capture, utilization and storage (CCUS) projects across the U.S. and UAE.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOur longstanding partnership with Occidental continues to drive scalable, high-growth and strategically attractive projects that create long-term sustainable value,\u201d said <strong>Khaled Salmeen, Chief Operating Officer of XRG<\/strong> \u201cThe U.S. is a priority market for XRG and we look forward to building on this partnership as we continue to invest in strategic projects across the energy value chain.\u201d<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-expanding-global-climate-solutions\">Expanding Global Climate Solutions<\/h3>\n\n\n\n<p>This agreement marks the latest in a series of milestones for Occidental\u2019s DAC leadership, including its first facility, STRATOS, which is on track to launch commercial operations in 2025.<\/p>\n\n\n\n<p>XRG\u2019s involvement underscores ADNOC\u2019s intent to invest in scalable lower-carbon energy solutions globally while deepening its strategic footprint in the U.S. energy transition.<\/p>\n\n\n\n<p>Related Article:<strong> <a href=\"https:\/\/sdgnews.com\/ar\/svante-opens-worlds-first-carbon-capture-gigafactory-to-scale-industrial-co2-removal\/\">Svante Opens World\u2019s First Carbon Capture Gigafactory to Scale Industrial CO2 Removal<\/a><\/strong><\/p>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Key Impact Points: Joint Venture Targets Large-Scale Carbon Removal Occidental and ADNOC\u2019s investment arm, XRG, have signed a Strategic DAC Framework Agreement to explore a joint venture to build a Direct Air Capture (DAC) facility in South Texas. The project would be developed by Occidental subsidiary 1PointFive. XRG is considering investing up to $500 million [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[34,28],"tags":[338,203,132,1137,61,66,60,67],"class_list":["post-6174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-and-energy","category-finance-investment","tag-1pointfive","tag-carbon-removal","tag-direct-air-capture-dac","tag-occidental","tag-sdg-news","tag-sdgs","tag-sustainable-development-goals","tag-un-sdgs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oxy and ADNOC Group Target $500M DAC Deal to Boost U.S. Climate Tech - SDG News<\/title>\n<meta name=\"description\" content=\"Occidental and ADNOC, have signed a Strategic DAC Framework Agreement to explore a joint venture to build a DAC facility in South Texas\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sdgnews.com\/ar\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\/\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oxy and ADNOC Group Target $500M DAC Deal to Boost U.S. Climate Tech\" \/>\n<meta property=\"og:description\" content=\"Occidental and ADNOC, have signed a Strategic DAC Framework Agreement to explore a joint venture to build a DAC facility in South Texas\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sdgnews.com\/ar\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\/\" \/>\n<meta property=\"og:site_name\" content=\"SDG News\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-20T10:46:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-20T10:46:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sdgnews.com\/wp-content\/uploads\/2025\/05\/Oxy-and-ADNOC-Group-Target-500M-DAC-Deal-to-Boost-U.S.-Climate-Tech.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1148\" \/>\n\t<meta property=\"og:image:height\" content=\"646\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"SDG News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"SDG News\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"\u062f\u0642\u064a\u0642\u062a\u0627\u0646\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/sdgnews.com\\\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/sdgnews.com\\\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\\\/\"},\"author\":{\"name\":\"SDG News\",\"@id\":\"https:\\\/\\\/sdgnews.com\\\/#\\\/schema\\\/person\\\/84f8eaf77462758fe2d00f443c547512\"},\"headline\":\"Oxy and ADNOC Group Target $500M DAC Deal to Boost U.S. Climate Tech\",\"datePublished\":\"2025-05-20T10:46:18+00:00\",\"dateModified\":\"2025-05-20T10:46:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/sdgnews.com\\\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\\\/\"},\"wordCount\":493,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/sdgnews.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/sdgnews.com\\\/oxy-and-adnoc-group-target-500m-dac-deal-to-boost-u-s-climate-tech\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/sdgnews.com\\\/wp-content\\\/uploads\\\/2025\\\/05\\\/Oxy-and-ADNOC-Group-Target-500M-DAC-Deal-to-Boost-U.S.-Climate-Tech.jpg\",\"keywords\":[\"1PointFive\",\"Carbon Removal\",\"Direct Air Capture (DAC)\",\"Occidental\",\"SDG News\",\"SDGs\",\"Sustainable Development Goals\",\"UN SDGs\"],\"articleSection\":[\"Climate &amp; 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