Website: [1pointfive.com](https://www.1pointfive.com) ### Introduction 1PointFive is a carbon capture, utilization, and sequestration (CCUS) company founded in 2020 as a wholly owned subsidiary of Occidental Petroleum (Oxy), a major energy corporation. Headquartered in Houston, Texas, 1PointFive focuses on developing and deploying decarbonization solutions to help limit global temperature rise to 1.5°C by 2050. The company's mission centers on scaling Direct Air Capture (DAC) technology and establishing geologic sequestration hubs to remove and store carbon dioxide (CO2) from the atmosphere and industrial sources. Specific employee count data is not publicly available, as it operates under Oxy’s broader corporate structure. As a subsidiary of Occidental Petroleum, a publicly traded company on the New York Stock Exchange under the ticker [OXY](https://finance.yahoo.com/quote/OXY), 1PointFive itself is not independently listed. Its operations are funded and reported through Oxy’s financials, positioning it as a private entity within a public parent company. The company has gained attention for its ambitious projects in the CCUS space, particularly in the context of energy infrastructure and natural gas-related emissions mitigation. ### Key Products and Technology 1PointFive’s primary focus is on carbon capture technologies and sequestration infrastructure, with an emphasis on integrating these solutions into energy and industrial systems, including natural gas operations. - **Direct Air Capture (DAC) Technology** - **Type**: Carbon capture system based on [[Carbon Engineering]]’s DAC technology. - **Technical Specifications**: Designed to capture CO2 directly from the atmosphere; specific capacity varies by project, with large-scale facilities targeting millions of metric tons per year (e.g., STRATOS facility aims for 500,000 metric tons annually). - **Fuel Type or Energy Source**: Requires significant energy input, often sourced from renewable or low-carbon electricity to ensure net-negative emissions. - **Key Differentiators**: Utilizes a proven chemical process to capture CO2 at scale, with a focus on permanent geologic storage rather than temporary offsets. Modular design allows for scalability. - **Development Stage**: Operational in pilot projects; STRATOS, the first large-scale DAC plant in Texas, is under construction with a target completion in 2025. - **Target Customers**: Corporations seeking carbon removal credits (e.g., airlines, tech companies), industrial emitters, and government-backed initiatives. - **Geologic Sequestration Hubs** - **Type**: CO2 storage infrastructure for permanent underground sequestration. - **Technical Specifications**: Hubs like the Pelican Sequestration Hub in Louisiana are designed to store millions of metric tons of CO2 annually, leveraging deep saline aquifers or depleted reservoirs. - **Fuel Type or Energy Source**: N/A (storage-focused, not energy-producing). - **Key Differentiators**: Strategically located near industrial emission sources (e.g., Gulf Coast) to minimize transport costs; supports both DAC and point-source capture from natural gas and other facilities. - **Development Stage**: Pelican Hub has reached a final investment decision (FID) as of 2025 and is in active development. - **Target Customers**: Industrial emitters (e.g., ammonia producers, natural gas plants), DAC projects, and carbon credit buyers. ### Regulatory and Licensing Status 1PointFive operates in the CCUS sector, which is subject to environmental and energy regulations rather than nuclear-specific oversight from bodies like the Nuclear Regulatory Commission (NRC). The company’s projects require permits from the U.S. Environmental Protection Agency (EPA) for CO2 injection wells under the Underground Injection Control (UIC) program, specifically Class VI wells for geologic sequestration. As of the latest updates, 1PointFive has secured necessary permits for its initial projects, including the STRATOS DAC facility in Texas, which received EPA approval for construction. Key regulatory milestones include the final investment decision for the Pelican Sequestration Hub in Louisiana, announced in 2025, indicating compliance with state and [[Federal|federal]] environmental standards. Upcoming milestones involve additional permitting for expanded hub networks and monitoring requirements to ensure long-term storage safety. The estimated timeline for first commercial deployment of large-scale DAC facilities, such as STRATOS, remains mid-2025, aligning with broader industry goals for carbon neutrality. Supportive policies, such as the U.S. Inflation Reduction Act’s enhanced 45Q tax credits for carbon capture, have bolstered the regulatory environment for 1PointFive’s projects [IRS.gov](https://www.irs.gov). ### Team and Leadership As a subsidiary of Occidental Petroleum, 1PointFive’s leadership is closely tied to Oxy’s executive structure. Specific team details for 1PointFive are limited in public sources, but key figures associated with its initiatives include: - **Vicki Hollub**: CEO of Occidental Petroleum, overseeing strategic direction for 1PointFive as part of Oxy’s low-carbon ventures. Hollub has led Oxy since 2016, with a background in petroleum engineering and a focus on sustainability initiatives. - **Michael Avery**: President of 1PointFive, responsible for day-to-day operations and project execution. Avery has extensive experience in energy infrastructure and carbon management, though detailed bio information is not widely publicized. X handles for individual leaders are not verified or publicly promoted for 1PointFive specifically, so they are omitted here. Leadership announcements are typically channeled through Occidental’s corporate communications. ### Funding and Financial Position 1PointFive’s funding is primarily sourced through its parent company, Occidental Petroleum, which has committed significant capital to low-carbon initiatives. Specific figures for 1PointFive’s allocated budget are not disclosed separately from Oxy’s financials. However, Occidental has reported investments in the billions for CCUS projects, including DAC and sequestration hubs, supported by federal incentives like the 45Q tax credit. As part of a publicly traded entity, 1PointFive’s financial position is reflected in Oxy’s market performance. As of late 2025, Occidental Petroleum’s market cap is approximately $45 billion, though stock performance specifics fluctuate and should be checked via current financial platforms [Yahoo Finance](https://finance.yahoo.com/quote/OXY). Strategic backers include partnerships with major corporations and potential government grants for carbon removal. 1PointFive is pre-revenue in terms of standalone operations, with income streams expected from carbon removal credits and sequestration services upon project completion. Recent agreements, such as with NYK Line for CO2 removal credits, indicate early commercial traction [NYK.com](https://www.nyk.com/english/news/2025/20250918_01.html). ### Recent News and Developments | Date | Event | Details | |---------------|------------------------------------|--------------------------------------------------------------------------------------------------| | Sep 18, 2025 | CO2 Removal Credit Agreement | NYK Line agrees to purchase CO2 removal credits from 1PointFive for decarbonization goals [NYK.com](https://www.nyk.com/english/news/2025/20250918_01.html). | | May 19, 2025 | Industry Context on Infrastructure| Energy investor Five Point targets $2B from Northwind pipelines sale, reflecting broader natural gas infrastructure trends [Reuters](https://www.reuters.com/business/energy/energy-investor-five-point-targets-2-billion-northwind-pipelines-sale-sources-2025-05-19/). | | Apr 8, 2025 | Sequestration Agreement | 1PointFive signs a 25-year agreement with CF Industries for 2.3M metric tons of CO2 sequestration annually at Pelican Hub [Oxy.com](https://www.oxy.com/news/news-releases/1pointfive-signs-25-year-sequestration-agreement-with-cf-industries/). | | Feb 10, 2025 | Project Updates | 1PointFive releases updates on DAC projects and sequestration hub progress via its news portal [1pointfive.com](https://www.1pointfive.com/news). | | Jan, 2025 | Pelican Hub Development | Final investment decision confirmed for Pelican Sequestration Hub, advancing construction in Louisiana (exact date not specified) [Oxy.com](https://www.oxy.com). | ### Partnerships and Collaborations - **NYK Line**: Agreement to supply CO2 removal credits, supporting NYK’s sustainability targets in maritime logistics. This partnership highlights 1PointFive’s role in providing scalable carbon offsets for global industries [NYK.com](https://www.nyk.com/english/news/2025/20250918_01.html). - **CF Industries**: A 25-year offtake agreement for sequestering 2.3 million metric tons of CO2 annually from a low-carbon ammonia facility in Louisiana. This deal underscores the strategic value of 1PointFive’s Gulf Coast hubs for industrial decarbonization [Oxy.com](https://www.oxy.com/news/news-releases/1pointfive-signs-25-year-sequestration-agreement-with-cf-industries/). - **Enterprise Products Partners**: Collaboration to develop a CO2 transportation network for the Southeast Texas Sequestration Hub, enhancing infrastructure for efficient carbon storage. This partnership reduces logistical barriers for emitters in the region [EnterpriseProducts.com](https://ir.enterpriseproducts.com/news-releases/news-release-details/1pointfive-and-enterprise-agreement-supports-development-carbon). ### New Hampshire Relevance 1PointFive’s technology and focus on carbon capture could have indirect relevance to [[New Hampshire]], though no direct projects or expressed interest in the Northeast U.S. are documented as of 2025. The state’s proximity to the ISO-NE grid and existing energy infrastructure, such as [[Seabrook Station]], suggests potential for future carbon offset programs tied to natural gas or industrial emissions in the region. However, 1PointFive’s current projects are concentrated in Texas and Louisiana, areas with high industrial activity and favorable geology for sequestration. The technology readiness of DAC and sequestration hubs aligns with longer-term decarbonization goals but is not immediately deployable in NH due to geographic and infrastructure constraints. New Hampshire’s legislative initiatives, such as HB 710, focus on clean energy and emissions reduction, which could theoretically support carbon capture credits or partnerships with companies like 1PointFive for grid or industrial applications (e.g., offsetting data center loads). Potential applications include providing carbon removal credits for NH-based industries or utilities aiming for net-zero targets. No specific NH connections are evident in current data, and deployment timelines (mid-2025 for major projects) suggest any regional impact would be post-2030. ### Competitive Position 1PointFive competes in the CCUS and DAC space with companies like Climeworks, [[Carbon Engineering]] (a technology partner and now part of Oxy’s portfolio), and Global Thermostat. Climeworks, based in Switzerland, operates smaller-scale DAC facilities globally and emphasizes renewable energy integration, posing a challenge in terms of international reach. Carbon Engineering, while a collaborator, also represents a benchmark for DAC efficiency, with 1PointFive benefiting from direct access to its tech but needing to differentiate on scale and cost. Global Thermostat focuses on urban DAC applications, contrasting with 1PointFive’s industrial and Gulf Coast focus. 1PointFive’s unique advantage lies in its parent company’s resources and strategic hub locations, though risks include high energy costs for DAC and regulatory delays in scaling sequestration. ### Closing Note 1PointFive is at an advanced development stage with operational pilots and major projects like STRATOS nearing completion, poised for significant growth in the CCUS market with a strong outlook driven by regulatory support and corporate demand. *Report generated December 24, 2025*