Occidental (NYSE: OXY) recently confirmed the acquisition of all outstanding equity of Carbon Engineering Ltd. The definitive purchase agreement details a total cash consideration of approximately $1.1 billion, split into three almost equal yearly payments, starting with the initial payment at the transaction’s closing. This acquisition is anticipated to finalize by the end of 2023, […]
Houston-based biotechnology startup Cemvita Factory has entered into an investment agreement with Occidental subsidiary Oxy Low Carbon Ventures (OLCV) to advance the development of innovative low-carbon technology. The investment will help Cemvita Factory develop new bio-engineered pathways that use CO2 as feedstock for sustainable intermediate chemicals and polymers production. Richard Jackson – president of OLCV […]
