1PointFive
1PointFive (NYSE: OXY) is a publicly traded Direct Air Capture company founded in 2019 and based in Houston, United States.
1PointFive was founded in 2019 and is headquartered in Houston, Texas. It operates as the carbon capture subsidiary of Occidental (NYSE: OXY) and focuses on direct air capture, which pulls CO2 directly from the atmosphere. Its flagship project, STRATOS, is under development in Ector County, Texas, using Carbon Engineering's liquid-solvent direct air capture technology, with captured carbon to be stored in geologic formations under Class VI permits. Verified carbon removal credits from the facility are intended for purchase by airlines and corporate buyers. A second line of work, AIR TO FUELS, converts captured atmospheric CO2 into synthetic fuels such as sustainable aviation fuel, linking carbon removal to a reusable fuel output. The company is led by President & General Manager Anthony Cottone and reports a headcount in the 11–50 range. It is wholly part of its parent and does not report independent venture funding.
1PointFive is significant to direct air capture because it is developing STRATOS, a facility in Ector County, Texas, that uses Carbon Engineering's liquid-solvent technology to remove CO2 from ambient air and store it in geologic formations under Class VI permits. Its planned customers include airlines and corporate buyers who would purchase verified carbon removal credits, which ties the project to demand from hard-to-abate sectors. The AIR TO FUELS pathway extends the model by converting captured carbon into synthetic fuels such as sustainable aviation fuel. As a subsidiary of Occidental, the company's capacity is backed by its parent's public-company structure.
At a glance
Total raised
Undisclosed
Headcount
11-50
Headquarters
Houston
United StatesFounded
2019
Status
Public
Subsector
Funding history
Total raised
—
Rounds tracked
0
No dated funding rounds on file. This company is privately held and may be raising or operating on undisclosed capital.