By All Nippon Airways (ANA), a subsidiary of ANA Holdings, has recently entered into a significant agreement with Occidental Petroleum to purchase carbon-dioxide-removal credits. This collaboration is a crucial step in ANA’s ambitious goal to achieve carbon neutrality by 2050.
Under the terms of the agreement, ANA will acquire 10,000 metric tons of carbon credits annually for a period of three years starting in 2025. These credits will be sourced from 1PointFive, a unit of Occidental Petroleum responsible for constructing a direct-air-capture facility in Texas. The plant is expected to commence commercial operations by mid-2025.
Powered by Occidental’s $1 billion investment, the Stratos plant operated by 1PointFive will leverage a sophisticated system of large fans to extract substantial quantities of carbon dioxide from the atmosphere. The captured emissions will then be transported deep underground through geological formations, where they will be securely stored for extended periods, potentially spanning centuries.
Anticipated to capture up to 500,000 metric tons of CO2 annually, the Stratos plant represents just one component of 1PointFive’s long-term vision. With favorable compliance and market conditions, the company intends to deploy over 100 direct-air-capture facilities worldwide by 2035.
This strategic collaboration between ANA and Occidental Petroleum signifies their mutual commitment to combatting climate change. By investing in innovative solutions like direct-air-capture technology, ANA aims to play a leading role in the aviation industry’s transition towards a more sustainable future.
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