JPMorganChase Signs 10-Year Deal with 1PointFive for 50,000 Metric Tons of DAC Carbon Removal

June 27, 2025

10:39 am

Key Impact Points:

Major commitment: JPMorganChase will purchase 50,000 metric tons of carbon removal credits over 10 years from 1PointFive’s STRATOS facility.
Technology milestone: The deal supports commercial deployment of Direct Air Capture (DAC) in the U.S., with STRATOS starting operations this year.
Market signal: The agreement helps establish a durable, high-quality carbon removal credit market aligned with corporate decarbonization strategies.

1PointFive Secures Long-Term Carbon Removal Deal with JPMorganChase

1PointFive, the carbon removal and storage subsidiary of Occidental, has announced a 10-year agreement with JPMorganChase for the purchase of 50,000 metric tons of carbon dioxide removal (CDR) credits. The credits will be generated using Direct Air Capture (DAC) technology at the company’s first commercial-scale DAC facility, STRATOS, located in Texas and set to become operational this year.

The carbon captured under the deal will be securely stored through saline aquifer sequestration, contributing to JPMorganChase’s efforts to address its unabated operational emissions.

“We’re excited to work with JPMorganChase and believe this agreement further demonstrates how leading organizations are integrating Direct Air Capture credits into their portfolios,” said Michael Avery, President and General Manager of 1PointFive. “Momentum from CDR buyers helps us move the technology forward and build infrastructure that creates economic opportunities in the United States.”

JPMorganChase Expands Focus on Durable CDR Solutions

The deal is part of JPMorganChase’s broader climate strategy, which includes support for scalable, high-integrity carbon removal solutions.

“With STRATOS set to be commercially operational this year, JPMorganChase is proud to support large scale deployment of DAC technology,” said Taylor Wright, Head of Operational Decarbonization at JPMorganChase. “This offtake agreement builds on our diverse, high-quality portfolio of carbon removal projects to address our unabated operational emissions and aligns with our ongoing efforts to help scale the growth and development of carbon removal technologies.”

This agreement reinforces the role of financial institutions in accelerating advanced climate technologies and signals growing market confidence in Direct Air Capture as a long-term emissions solution.