1PointFive was formed from a partnership between Oxy Low Carbon Ventures and Rusheen Capital Management to merge Occidental's leadership in carbon management and CO2 storage, with the commercialization prowess and carbon-to-value vision of Rusheen.

The company's vision is to assist commercial and industrial (C&I) emitters to deploy CCUS technologies as a means to accelerate global emissions reduction. Owing to this, the company is developing technologies that range from Direct Air Capture (DAC) and point-source capture, to geologic sequestration and CO2 to fuels.

For the DAC, 1PointFive has partnered with Carbon Engineering to build an industrial scale DAC+S (sequestration) plant in the USA. This facility is expected to capture 0.5 Mtons CO2 annually (Mtpa) by 2024 and have capacity to remove up to 1 million tonnes per year when fully operational. After successful completion of a Front-End Engineering and Design (FEED) study and extensive testing and validation at the Carbon Engineering Innovation Centre, on August 2022, the company announced that they plan to begin detailed engineering and early site construction for their first large-scale Direct Air Capture (DAC) plant in Ector County, Texas.

For the sequestration, 1PointFive aims to deploy a hub-based model allowing access to a shared carbon storage infrastructure which seeks to streamline the practical management of captured CO₂. Theit goal is for each hub to have the capacity to sequester at least 3 Mtpa CO₂ and include:

• CO₂ pipeline connections that bring captured CO₂ from industrial sources
• A CO₂ treating facility that separates and compresses the CO₂ into a supercritical fluid, preparing it for injection
• Three or more Class VI CO₂ injection wells meeting EPA construction, operation and record-keeping requirements
• Multiple monitoring wells focused on tracking downhole CO₂ and monitoring groundwater

1PointFive is currently assessing a number of potential sequestration hubs in several different regions of the United States, in proximity to existing emissions sources as well as suitable transportation infrastructure and geology. Specifically, the company has leased land from Weyerhaeuser Company to develop a carbon sequestration hub in northeastern Livingston Parish, Louisiana. 1PointFive intends to use the land to safely and permanently sequester CO₂ in underground rock formations while Weyerhaeuser continues to manage the above-ground acreage as a working forest. They estimate that the hub will be able to store 6 Mtpa in 16 wells (5-6 injection wells and 8-10 monitoring wells) and its planned for operation in the beginning of 2025. For this, the company forecasted to begin groundwork in the first well pads in July 2022. No information has been published on the topic.

Partnerships, agreements & projects

October 2024 - 1PointFive and Enterprise Products partnered to build a CO2 pipeline network for the Bluebonnet Sequestration Hub in Texas, advancing industrial decarbonization through efficient transportation of captured emissions to sequestration sites.

October 2024 - 1PointFive’s Bluebonnet and Magnolia Sequestration Hubs received $36M in U.S. Department of Energy funding to progress geologic CO2 storage, permitting, and site development, supporting industrial emission reductions in Texas and Louisiana.

September 2024 - The South Texas DAC Hub secured up to $500M in U.S. Department of Energy funding for a facility removing 500,000 metric tons of CO2 annually, with potential expansion to 30M metric tons and robust community benefit programs.

July 2024 - Microsoft agreed to purchase 500,000 metric tons of CDR credits from 1PointFive’s DAC facility, STRATOS, over six years. The deal showcases DAC as a scalable solution for achieving net-zero goals in hard-to-abate sectors.

1PointFive is currently the owner and developer of the DAC facility under construction, from which it can be assumed that the company will be selling DAC Carbon Offsets in the Voluntary Carbon Market (Carbon Engineering's offsets range between $200 and $300 per ton).

The company is also looking to create sequestration hubs to provide carbon sequestration-as-a-service.

• 1PointFive uses Carbon Engineering DAC system.
• The system works by pulling air into a large air contractor system, which looks like a cooling tower with a series of giant fans. The air comes in contact with a potassium hydroxide solution where a chemical reaction happens. It is here that the CO2 molecules chemically bind to the potassium hydroxide, trapping them in a liquid solution.
• The CO2 trapped in this carbonate solution is then put through a series of chemical processes to increase its concentration while purifying and compressing it - delivering it as a gas ready to be used or stored underground. This happens in the pellet reactor where calcium hydroxide is added to form calcium carbonate pellets when reacting with the CO2. Afterwards, the Calcium Carbonate pellets are then separated from the KOH solution, which is recycled into the system. In a Calciner, the CO2 is separated from the calcium hydroxide pellets which are also recycled back into the process.

1PointFive is using Carbon Engineering's technology to capture CO2 directly from the air with an engineered, mechanical system. Looking to scale the plant ownership to capture as much CO2 from the air as possible. Additionally, the company is looking to create several sequestration hubs for nearby capture sites.