Occidental Low Carbon Ventures and TAE Technologies Explore Fusion Energy for Direct Air Capture Facilities
11 6월 2024 - 9:00PM
Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE:
OXY), and TAE Technologies, a global leader in fusion energy
development, today announced they have signed a memorandum of
understanding to explore commercial opportunities that use TAE’s
fusion technology to provide emissions-free power and heat for
Direct Air Capture (DAC) facilities.
Fusion technology has the potential to deliver emissions-free,
continuous and on-demand energy to complement Occidental’s existing
zero or very-low emissions approach for DAC power and heat
requirements. Occidental anticipates a variety of energy sources
will be needed including solar, NetPower and potentially other
forms of renewables depending on the location and future DAC
technology development.
Through the agreement, TAE Technologies can explore
demonstrating the reliability, cost savings and safety of their TAE
Power Solutions power management systems in a high utilization
commercial setting.
“Collaborating with TAE Technologies is an opportunity to build
on Occidental’s portfolio of clean power sources that can provide
our Direct Air Capture facilities with reliable, emissions-free
energy,” said Frank Koller, Vice President, Power Development, Oxy
Low Carbon Ventures. “Fusion is a promising technology that
advances our efforts to explore sustainable energy sources as we
progress with commercializing large scale Direct Air Capture as a
critical climate solution.”
“Oxy Low Carbon Venture’s desire for emissions-free energy makes
this the perfect moment to explore the deployment of our
commercial-ready power management products, while the growing
demand for large-scale power generation can be served by our future
fusion offerings,” said Michl Binderbauer, CEO, TAE Technologies.
“We are thrilled to work toward achieving these ambitious goals and
demonstrate the benefits of our technologies to other high-power
users.”
TAE’s fusion technology works by combining (or fusing) the light
nuclei of elements such as hydrogen to produce energy. The energy
release is managed by producing steam, which spins a turbine that
drives an electric generator producing a reliable supply of clean
energy or used as-is to provide clean heat.
About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of
Occidental (Oxy), an international energy company with assets
primarily in the United States, the Middle East and North Africa.
OLCV is focused on advancing cutting-edge, low-carbon technologies
and business solutions that enhance Oxy’s business while reducing
emissions. OLCV also invests in the development of low-carbon fuels
and products, as well as sequestration services to support carbon
capture projects globally. Visit Carbon Innovation on oxy.com for
more information.
About TAE Technologies
TAE Technologies (pronounced T-A-E) was founded in 1998 to
develop commercial fusion power with the cleanest environmental
profile. The company's pioneering work represents the fastest, most
practical, and economically competitive solution to bring abundant
clean energy to the grid. With more than 2,300 patents filed
globally and approximately 1,500 granted, more than $1.2 billion in
private capital raised, five generations of National
Laboratory-scale devices built along with two more in development,
and an experienced team of over 600 employees, TAE is now on the
cusp of delivering this transformational energy source capable of
sustaining the planet for thousands of years. The company's
revolutionary technologies have produced a robust portfolio of
commercial innovations in large adjacent markets such as power
management, energy storage, electric mobility, fast charging, life
sciences, and more. TAE is based in California, and maintains
international offices in the UK, EU, and Switzerland.
Multidisciplinary and mission-driven by nature, TAE is leveraging
proprietary science and engineering to create a bright future. For
more information, click here.
About TAE Power Solutions
TAE Power Solutions sees a future fueled by good, clean power:
Electricity that is abundant, carbon-free, non-radioactive, and
affordable for all, provided by commercial fusion energy. But the
path to that perfect energy source demands innovations that can be
implemented today. TAE Power Solutions’ revolutionary technologies
were originally developed to bridge the gap between the amount of
power needed to run a TAE fusion research reactor and what was
supplied by the local power grid. With no sufficient solution
available in the market, TAE created a first-of-its-kind energy
storage and power delivery system. That innovation has unlocked a
complete clean energy ecosystem, including more affordable and
efficient storage, ultrafast charging capabilities, electric
vehicle powertrains, peak shaving, buffering, and second life of
batteries. TAE Power Solutions is now adapting the same technology
invented to power TAE’s fusion technology for cars, homes, or
businesses – accelerating the transition to an electrified world.
For more information, click here.
Contacts
Media |
|
Investors |
Eric
Moses713-497-2017eric_moses@oxy.com |
|
R.
Jordan Tanner713-552-8811investors@oxy.com |
|
|
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press@tae.com |
|
Jonathan Torettajt@tae.com |
Occidental Petroleum (NYSE:OXY)
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부터 5월(5) 2024 으로 6월(6) 2024
Occidental Petroleum (NYSE:OXY)
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부터 6월(6) 2023 으로 6월(6) 2024