1PointFive and AT&T Announce Direct Air Capture Carbon Removal Agreement
13 Março 2024 - 9:00AM
1PointFive, a carbon capture, utilization and sequestration (CCUS)
company, today announced that AT&T has agreed to purchase
carbon dioxide removal (CDR) credits from STRATOS, 1PointFive’s
first large-scale Direct Air Capture (DAC) facility that is
currently under construction in Texas. The purchase, announced
today, is a part of AT&T’s commitment to reduce carbon
emissions and become carbon neutral in its global operations by
2035.
STRATOS is designed to capture up to 500,000 metric tons of CO2
annually when fully operational and is expected to be the largest
facility of its kind in the world. Under the agreement with
AT&T, the captured CO2 underlying the removal credits will be
stored through durable saline sequestration.
To further work towards global climate goals, 1PointFive joined
AT&T’s Connected Climate Initiative (CCI), a collaborative
effort to pursue connectivity-based solutions to reduce greenhouse
gas emissions by one gigaton by 2035. The CCI brings together a
diverse group of organizations to support the development of Smart
Climate Solutions that can utilize AT&T connectivity.
1PointFive’s participation in the CCI is focused on increasing
collaboration around carbon removal solutions like DAC that can
help cost effectively achieve net zero.
“AT&T’s carbon removal credit purchase is another proof
point of the vital role that Direct Air Capture can play in
providing a high-integrity and durable solution to help
organizations address their emissions,” said Michael Avery,
President and General Manager of 1PointFive. “We look forward to
working with AT&T to help them achieve their climate goals
while furthering our collaboration through the CCI.”
“As we work towards achieving our Gigaton goal,
we know that we need to find ways that AT&T connectivity can
enable game-changing solutions to reduce greenhouse gas emissions
at scale,” said Shannon Carroll, AVP of Global Environmental
Sustainability at AT&T. “Together with 1PointFive, we're
committed to driving adoption of high-impact, innovative
technologies like DAC to help address climate change."
About 1PointFive1PointFive is a Carbon Capture,
Utilization and Sequestration (CCUS) company that is working to
help curb global temperature rise to 1.5°C by 2050 through the
deployment of decarbonization solutions, including Carbon
Engineering's Direct Air Capture and AIR TO FUELS™ solutions
alongside geologic sequestration hubs. Visit 1PointFive.com for
more information.
AIR TO FUELS™ is a registered trademark of Carbon Engineering
Ltd.
About AT&TWe help more than 100 million
U.S. families, friends and neighbors, plus nearly 2.5 million
businesses, connect to greater possibility. From the first phone
call 140+ years ago to our 5G wireless and multi-gig internet
offerings today, we @ATT innovate to improve lives. For more
information about AT&T Inc. (NYSE:T), please visit us at
about.att.com. Investors can learn more at investors.att.com.
Cautionary Statement Regarding Forward-Looking
StatementsThis news release contains “forward-looking
statements” within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, including
those relating to the agreement’s benefits and related impact on
carbon emissions and Occidental’s (NYSE: OXY) and its subsidiaries'
deployment and use of DAC technology, which are based on
Occidental’s current expectations, beliefs, plans, estimates, and
forecasts. All statements other than statements of historical fact
are forward-looking statements for purposes of federal and state
securities laws. Words such as “believe,” “will,” “may,” “expect,”
“plan,” or similar expressions that convey the prospective nature
of events or outcomes are generally indicative of forward-looking
statements. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
news release. Unless legally required, Occidental does not
undertake any obligation to update, modify, or withdraw any
forward-looking statements as a result of new information, future
events, or otherwise.
These statements are not guarantees of future performance as
they involve assumptions that may prove to be incorrect and risks
and uncertainties, including those that are beyond Occidental’s
control. Factors that may cause actual results to differ materially
from forward-looking statements include Occidental’s ability to
access necessary technology, to develop and employ existing or new
technology on a commercial scale, to access capital, to collaborate
with third parties and customers, and to receive approvals from
regulatory bodies, as well as market conditions, geopolitical
events, and scientific developments. Additional factors that may
affect Occidental’s and its subsidiaries' ability to deploy DAC
technology can be found in Occidental’s public disclosure and its
filings with the U.S. Securities and Exchange Commission (SEC),
which may be accessed at Occidental’s website at oxy.com or the
SEC’s website at sec.gov. Information included herein is not
necessarily material to an investor in Occidental’s securities.
Contacts
Media |
Investors |
Eric
Moses713-497-2017eric_moses@oxy.com |
R. Jordan
Tanner713-552-8811investors@oxy.com |
|
|
Shanna Watkins(972)
710-2186shanna.watkins@att.com |
|
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