ClimateTicker

1PointFive

40Mixed / Improving· Provisional
0 followersCarbon removal·Houston, TX, USA·Founded 2020
www.1pointfive.com

Occidental's DAC subsidiary operating STRATOS — the world's largest direct air capture facility in Texas — using Carbon Engineering's technology acquired in 2023.

40/100
Mixed / Improving· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: highData confidence: medium

Ownership

Owned by

Why it's on ClimateTicker

1PointFive is Occidental Petroleum's CCUS subsidiary operating STRATOS, designed as the world's largest direct air capture facility at up to 500,000 tonnes CO₂/year — a genuinely novel mitigation technology with real physical infrastructure and EPA-regulated underground sequestration. However, the parent company (Oxy) is simultaneously expanding oil and gas production and has no SBTi-validated targets, making 1PointFive a green tech island inside a fossil-fuel enlargement strategy; the DAC throughput at commercial scale, once operational, will remain a fraction of Oxy's Scope 3 emissions. Investors should value the technology and first-mover position while discounting Oxy's headline 'net-zero oil' framing as structurally misleading.

mitigation1PointFive sells Carbon Dioxide Removal (CDR) credits to corporates (Microsoft, Amazon, JP Morgan, Palo Alto Networks, ANA) at premium prices, and offers CO₂ sequestration-as-a-service to industrial emitters via its geologic storage hubs; it is backed by $550M from BlackRock and up to $500M in U.S. DOE grants for the South Texas DAC Hub.

Commitments & Certifications

CDP: Disclosed — score not publicly confirmed in search results ↗other: EPA Class VI UIC Permits — first ever issued for DAC sequestration ↗other: U.S. DOE OCED Award — up to $500M for South Texas DAC Hub ↗

Controversy & Greenwashing Watch

mediumSTRATOS repeated construction delays and component failure

STRATOS missed its original 2024 launch target and a subsequent end-of-2025 deadline after Occidental identified a failure in non-process components during commissioning, raising execution risk concerns for a $1.3B flagship project.source ↗

mediumADNOC/XRG joint venture raises fossil-entanglement concerns

1PointFive and Oxy signed a strategic DAC framework agreement with Abu Dhabi's national oil company ADNOC (via XRG) during a Trump UAE state visit, linking DAC expansion directly to OPEC-aligned petro-state capital.source ↗

mediumAs You Sow shareholder resolution on carbon offset accounting

As You Sow filed a 2024 shareholder resolution demanding Occidental disclose how DAC carbon offsets factor into its net-zero accounting, warning of risks of misleading climate claims if offsets substitute for actual enterprise-wide emission cuts.source ↗

high'Net-Zero Oil' framing condemned as structurally flawed

Carbon Market Watch's April 2024 report found Oxy's 'net-zero oil' concept deeply flawed, its climate strategy vague and misaligned with IPCC/Paris Agreement, and noted Oxy declined to respond to requests for information or comment during the review.source ↗

highScope 3 emissions excluded from all binding targets

Occidental's climate targets cover only Scope 1 and 2 operational emissions; Scope 3 (the dominant share from oil and gas products it sells) is addressed only through a vague 2032 CCUS facilitation goal with no binding reduction commitment.source ↗

mediumClimate Action 100+ alignment failures and investor pressure

Climate Action 100+ found that Occidental does not meet most criteria for climate policy engagement alignment, and institutional investors have repeatedly voted or campaigned against the board over inadequate 1.5°C-aligned targets.source ↗

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