Oxy Low Carbon Ventures

The group typically sources through direct partnerships with technology developers tied to Occidental’s operational needs. The relationship with Carbon Engineering, leading to the 1PointFive development company for the STRATOS DAC plant, illustrates the model: identify a technology that integrates with Oxy’s existing CO₂ infrastructure and provide project finance to scale it. Oxy also engages in direct co-development partnerships such as the bio-ethylene pilot with Cemvita Factory.

No, it operates as a corporate venture and project-development arm. The unit deploys capital from Occidental’s balance sheet rather than from external limited partners. Its work ranges from wholly-owned project finance (STRATOS) to direct technology partnerships. It does not raise third-party funds or report a dedicated fund-level AUM.

STRATOS is a large-scale Direct Air Capture facility under construction in the Permian Basin. Oxy created the development company 1PointFive to finance and deploy Carbon Engineering’s DAC technology for the project. When completed, Oxy says STRATOS will be the largest DAC facility in the world. The captured CO₂ is intended for use in Oxy’s enhanced oil recovery operations and for storage.

The portfolio concentrates on physical carbon capture, utilization, and storage (CCUS), direct air capture, CO₂-to-chemicals conversion, and operational decarbonization technologies such as solar power for oil and gas operations. Cemvita Factory, its CO₂-to-bio-ethylene partnership, sits at the intersection of industrial biotechnology and carbon utilization.

Oxy Low Carbon Ventures is wholly internal to Occidental, using the parent’s balance sheet for investment. Its projects are designed to reduce Occidental’s own Scope 1 and Scope 2 emissions and to build a commercial business around CO₂ management. The Goldsmith Solar Plant, for example, directly powers Occidental’s Permian Basin enhanced oil recovery operations with solar energy rather than grid power.