The EPA has issued draft permits for the first Class VI wells in Texas focused on carbon dioxide sequestration, marking a significant advancement in carbon capture initiatives.
Stratos is anticipated to be one of the world's first large direct air capture plants, capable of removing 500,000 metric tons of CO2 annually, helping firms like Microsoft meet their sustainability targets.
The collaboration between Oxy Low Carbon Ventures and tech giants shows a new reliance on innovative technologies to counteract rising greenhouse gas emissions and combat climate change.
Oxy’s pioneering carbon removal credit agreements, including with Microsoft, underscore the growing market for carbon credits as companies strive to negate their substantial emissions.
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