1PointFive, a subsidiary of Occidental, announced that its Bluebonnet and Magnolia Sequestration Hubs have received a combined total of $36 million in funding from the U.S. Department of Energy (DOE) through Phase III of the Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Initiative. This funding will aid the development of 1PointFive’s carbon dioxide (CO2) sequestration hubs, which aim to mitigate emissions from industrial sources.
The Bluebonnet Sequestration Hub, located in Chambers County, Texas, and the Magnolia Sequestration Hub in Allen Parish, Louisiana, are designed for large-scale geological CO2 storage and are strategically positioned near major industrial emissions sources. By combining pore space, progressing UIC Class VI sequestration permits, and necessary infrastructure, 1PointFive’s hubs offer an effective solution for industries struggling to achieve decarbonization.
“With over 50 years of carbon management experience, we are leveraging our expertise to provide a reliable solution for advancing industrial decarbonization,” said Jeff Alvarez, President of 1PointFive Sequestration. “Our partnership with the Department of Energy will help us accelerate the development of our hubs and maximize the potential of carbon capture and storage (CCS) in achieving climate objectives.”
The funding will support site characterization, permitting, and environmental approval processes for construction at both hubs. Additionally, 1PointFive is launching a community benefit program that focuses on educational initiatives, fostering diverse community relationships, and addressing community feedback.
