Fusion energy for direct air capture will be explored by Occidental and TAE technologies

Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE: OXY), and TAE Technologies, a leading innovator in fusion energy, have signed a memorandum of understanding to explore commercial applications of TAE fusion technology to provide carbon-free electricity and heat for direct capture devices air (DAC).

“Collaborating with TAE Technologies is an opportunity to leverage Occidental’s portfolio of clean energy sources that can provide our Direct Air Capture facilities with reliable, emissions-free energy,” said Frank Koller, vice president of energy development at Oxy Low Carbon Ventures. “Fusion is a promising technology that supports our efforts to pursue sustainable energy sources as we advance the commercialization of large-scale direct air capture as a key climate solution.”

Fusion technology offers the promise of delivering clean, continuous energy on demand, consistent with Occidental’s commitment to using zero or very low emission energy sources to power and heat the DAC. Occidental expects that due to location and advances in DAC technology, a combination of various energy sources will be necessary, including solar, NetPower and potentially other renewable energy sources.

“Oxy Low Carbon Venture’s interest in carbon-free energy makes it an ideal time to explore the deployment of our commercial-ready energy management products, while the growing demand for large-scale power generation can be met by our future fusion offering ” – said Michl Binderbauer, CEO of TAE Technologies. “We are excited to work towards achieving these ambitious goals and demonstrating the benefits of our technologies to other high-power users.”

Under this agreement, TAE Technologies will have the opportunity to demonstrate the reliability, cost-effectiveness and security of its TAE Power Solutions energy management systems in a high-demand commercial environment.

Direct air capture has drawn criticism from some quarters, arguing that the renewable energy required to power the CO2 removal process should instead be used directly to decarbonize the grid.

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