BlackRock is investing in DAC
BlackRock backs DAC with $550m Stratos deal
World’s largest fund manager forms joint venture with Occidental to drive forward Texas project
BlackRock, the world’s largest fund manager, has thrown its weight behind the emerging direct air capture (DAC) industry with a deal to invest $550m in Occidental’s large-scale Stratos project in Texas. As part of the deal, BlackRock will form a joint venture with Occidental through its subsidiary 1PointFive, which is developing the project in Ector County. Blackrock’s backing of Stratos, which is touted as the world’s largest DAC project, highlights the emerging technology’s growing importance as a decarbonisation tool. “This joint venture demonstrates that DAC is becoming an investable technology, and BlackRock’s commitment in Stratos underscores its importance and potential for the world,
Also in this section
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
12 March 2025
Launch of credit trading scheme likely to slip into 2026 as government grapples with complex market design challenges
11 March 2025
Direct air capture is still in its infancy, but organisations are seeking to leverage global collaborations and AI to discover new materials, with an aim of scaling up the technology and cutting costs
