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Start-ups

Chevron and Occidental Petroleum invest in carbon capture firm Carbon Engineering

by Michael McCoy
January 18, 2019 | A version of this story appeared in Volume 97, Issue 3
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Venture investment arms of Chevron and Occidental Petroleum have invested an undisclosed sum in Carbon Engineering, a Canadian firm that is developing a chemical method of capturing CO2 from the atmosphere. In the process, CO2 reacts with calcium hydroxide to create a calcium carbonate solution. Carbonate pellets are formed, then decomposed into concentrated CO2 and solid calcium oxide. The CaO is then hydrated to regenerate the hydroxide. Carbon Engineering raised about $8 million in July.

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