Occidental Acquires a Direct Air Capture Tech Firm

18 Aug 2023 CW Team

An oil business with a U.S. base called Occidental has announced the acquisition of Carbon Engineering, a firm that specializes in direct air capture (DAC) technology, for about $1.1 billion.

A wholly owned subsidiary of Occidental called Oxy Low Carbon Ventures will buy all of Carbon Engineering's outstanding equity in accordance with the terms of the binding acquisition agreement.

Three equal annual payments will be made to complete the purchase, with the first payment being made upon closing.

Subject to usual closing requirements, such as regulatory approvals and Canadian judicial reviews, the transaction's completion is anticipated to occur by the end of 2023.

Since 2019, Occidental and Carbon Engineering have been working together with a focus on adopting the DAC technology.

According to the business, this acquisition supports Occidental's net-zero ambition and will enable it to use Carbon Engineering's expertise to promote DA technology advancements and hasten the adoption of the technology as a globally scalable and affordable carbon removal solution.

For efficient carbon capture, Carbon Engineering provides established procedures and tested industrial machinery.

Infrastructure Transport

24 Oct 2025

Bengaluru Unveils Rs 1,200 Bn Infra Upgrade Plan

Bengaluru is set to receive a massive infrastructure boost worth Rs 1,200 billion under new projects planned by the Karnataka government to enhance urban mobility and connectivity. The initiative includes the expansion of the city’s metro network, construction of tunnel roads, elevated corridors, and 500 km of white-topping works to improve road durability. The Bruhat Bengaluru Mahanagara Palike (BBMP) and Bengaluru Metro Rail Corporation Limited (BMRCL) will jointly execute the projects. Key projects include tunnel roads between Hebbal and Mekhri Circle, 25 new signal-free corridors, and ..

Cochin Shipyard delivers first indigenous ASW vessel ‘Mahe’ to Navy

Cochin Shipyard Limited (CSL) has delivered INS Mahe, the first indigenous Anti-Submarine Warfare Shallow Water Craft (ASW SWC), to the Indian Navy. The vessel is part of an eight-ship series being constructed under the Navy’s “Atmanirbhar Bharat” initiative to strengthen coastal defence capabilities. Designed and built entirely in India, Mahe features advanced sensors and weapon systems for detecting and neutralising underwater threats in coastal waters. The vessel underwent extensive sea trials before delivery, demonstrating high performance and manoeuvrability. This milestone reinfo..

Vedanta Group to invest Rs 1,000 billion more in Odisha projects

Vedanta Group has announced an additional investment of Rs 1,000 billion in Odisha to expand its operations across metals, energy, and downstream industries. Anil Agarwal, Chairman, made the announcement during the third edition of the Make in Odisha conclave, highlighting the state’s pivotal role in India’s industrial growth.The investment will focus on strengthening Vedanta’s aluminium and copper businesses, establishing new value-added facilities, and boosting employment in the region. The company already operates large-scale plants in Jharsuguda and Lanjigarh, contributing significan..