RCS - i(x) Net Zero PLC - Carbon Engineering Signs Second Site Lease

I (X) Net ZeroAnnouncement

11/11/2022 08:15

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RNS Number : 0151G  i(x) Net Zero PLC  11 November 2022

REACH

i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

Carbon Engineering Signs Lease Agreement for Second Site in the US

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy
Transition and Sustainability in the Built Environment, is pleased to
announce that its portfolio company, Carbon Engineering Ltd. ("Carbon
Engineering"), has signed an agreement with its US development partner,
1PointFive, to begin planning and engineering for Direct Air Capture ("DAC")
facilities at a second site in the U.S., in Kleburg County, Texas.

Carbon Engineering has a proprietary DAC technology that removes carbon
dioxide directly from the atmosphere for sequestration and storage. The site
in Kleburg County is expected to provide access for the potential construction
of multiple DAC facilities that would be capable of collectively removing up
to 30 million tonnes of carbon dioxide from the atmosphere annually for
dedicated sequestration, creating one of the largest DAC projects in the
world.

In addition, 1PointFive and its parent company, Occidental (NYSE: OXY),
recently announced plans to begin detailed engineering and early site
construction in Q3 2022 for its first large-scale DAC plant in Ector County,
Texas.

More information on Carbon Engineering's latest announcements can be found
here (https://carbonengineering.com/news-updates/) .

Steve Oyer, Chief Executive Officer of the Company, said: "Carbon Engineering
and its partners are pioneering the systems and processes necessary for
large-scale, commercially viable carbon capture. Carbon capture technology is
a crucial decarbonisation solution and is helping to support the global move
towards a net-zero economy."

 

Daniel Friedmann, CEO of Carbon Engineering, was quoted as saying: "Working
hand in hand with our partners at Occidental and 1PointFive, we've been
focused on building an accelerated deployment approach, while simultaneously
beginning construction of the first, large-scale commercial facility in Texas.
Now, with this 'copy and paste' megatonne DAC facility, we're working towards
widespread, multi-million tonne deployments across the U.S."

 

- Ends -

 

 

For further information visit https://ixnetzero.com/
(https://url.avanan.click/v2/___https:/ixnetzero.com/___.YXAzOml4bmV0emVybzphOm86N2IwNzI5ZjFjNmRmYzY5Yjg5ODRhOGZiZWRiYWVmOTk6NjoyMjBhOjRmMGM4Yjg2ZmVkOWZiMzQwN2MwYjQ5ZDVjM2Q0N2I5ZjdmYjRmNDZmYTQ1NjM4Y2NkYTkwYmVjZGEyZTA4YWM6cDpU)
 or contact:

 i(x) Net Zero                               Via Buchanan below
 Steve Oyer - Chief Executive Officer
 Pär Lindström - Chief Investment Officer
 Dmitri Tsvetkov - Chief Financial Officer

 H & P Advisory Limited                      +44 20 7907 8500

 Financial Adviser & Joint Broker
 Neil Passmore
 Ernest Bell
 Andy Crispin (Sales)

 Shore Capital                               +44 20 7408 4050

 Nominated Adviser & Joint Broker
 Tom Griffiths
 David Coaten

 Iain Sexton

 Buchanan
 Helen Tarbet                                +44 7872 604 453
 Simon Compton                               +44 7979 497 324

 

 

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provide its
shareholders the opportunity to create long-term capital growth with
positive, scalable, measurable and sustainable impact on the environment and
on the communities it serves.

In accordance with its belief that the world's biggest problems are also the
biggest market opportunities, i(x) Net Zero focuses on two critical areas in
which it aims to make a positive impact: (i) Energy Transition and (ii)
Sustainability in the Built Environment. The Company uses a multi-strategy
investment approach, providing the companies in which it invests with the
expertise and catalytic capital to help them grow. To date, i(x) Net Zero has
invested in biofuels, direct air capture (carbon removal), renewable energy,
sustainable workforce housing and net zero construction technology.

i(x) Net Zero is a  signatory to the UN Principles for Responsible
Investing. The Company has received the London Stock Exchange's Green Economy
Mark.

About Carbon Engineering

 

Carbon Engineering (CE) is a climate solutions company. CE is focused on the
global deployment of megaton-scale Direct Air Capture (DAC) technology that
captures carbon dioxide out of the atmosphere so it can be permanently stored
deep underground or used to produce clean, affordable transportation fuels.
With its industrial partners, CE is working to deploy its technology in
multiple markets around the globe, providing affordable climate solutions to
meet the needs of a net zero economy.

For more information on Carbon Engineering, please visit
https://carbonengineering.com
(https://url.avanan.click/v2/___https:/carbonengineering.com___.YXAzOml4bmV0emVybzphOm86N2IwNzI5ZjFjNmRmYzY5Yjg5ODRhOGZiZWRiYWVmOTk6NjpjMDM0OmY3ZDU5MTMyMGY2OGExZTc3ZDRiZmJlYWVhZDFmNmE5Y2ZlYjBjZGFlNzM3Njc0MWU1ZGFhNTZiYTQ2ZmNiZWY6cDpU)
.

 

 

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