1PointFive has leased 55,000-acres of land along the Texas Gulf Coast develop a carbon capture and sequestration hub.
The carbon capture, utilisation and sequestration firm will work will its parent company Occidental to develop the site with a capacity to store approximately 1.2 billion metric tonnes of CO2.
Called the Bluebonnet Hub, the site is located in Chambers, Liberty and Jefferson counties near refineries, chemical plants and manufacturing facilities along the Gulf Coast from Beaumont to Houston.
1PointFive hopes the site will be operational in 2026.
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