11th Nov 2022 14:29
i(x) Net Zero PLC - St Helier, Jersey-registered investment firm focused on energy transition and sustainability - Says portfolio firm Carbon Engineering Ltd signs an agreement with its US development partner 1PointFive to begin planning and engineering for Direct Air Capture facilities at in Kleburg County in Texas. Says Carbon Engineering has a proprietary DAC technology that "removes carbon dioxide directly from the atmosphere for sequestration and storage".
Expects the site to provide access for the potential construction of multiple DAC facilities, which would be capable of "collectively removing up to 30 million tonnes of carbon dioxide from the atmosphere annually".
Carbon Engineering Chief Executive Officer Daniel Friedmann says: "With this 'copy and paste' megatonne DAC facility, we're working towards widespread, multi-million tonne deployments across the US."
Current stock price: 18.42 pence, down 3.1% on Friday afternoon in London
12-month change: down 76%
By Xindi Wei; [email protected]
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