Renewable Energy M&A: From collaboration to $1.1bn takeover; Oxy's journey with Carbon Engineering in direct air capture (DAC)

Occidental (Oxy) is set to purchase all outstanding shares of Carbon Engineering for a cash consideration of ~$1.1bn. The acquisition comes after a four-year collaboration between the two firms, during which they jointly advanced the development of DAC technology and deployment of DAC hubs. Their flagship project, the South Texas DAC hub, can capture and store up to 1 million metric tons of CO2 annually.  

Enerdatics chronicles the significant partnership milestones achieved by the two companies through a concise timeline.

The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

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