BlackRock is investing in DAC
BlackRock backs DAC with $550m Stratos deal
World’s largest fund manager forms joint venture with Occidental to drive forward Texas project
BlackRock, the world’s largest fund manager, has thrown its weight behind the emerging direct air capture (DAC) industry with a deal to invest $550m in Occidental’s large-scale Stratos project in Texas. As part of the deal, BlackRock will form a joint venture with Occidental through its subsidiary 1PointFive, which is developing the project in Ector County. Blackrock’s backing of Stratos, which is touted as the world’s largest DAC project, highlights the emerging technology’s growing importance as a decarbonisation tool. “This joint venture demonstrates that DAC is becoming an investable technology, and BlackRock’s commitment in Stratos underscores its importance and potential for the world,
Also in this section
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
10 December 2024
Tightened standards have helped improve the outlook for the voluntary carbon market, which is set for a record year and poised for long-term growth
