BlackRock invests in Occidental's Stratos: New York-based investment company BlackRock is investing USD 550 mn in developing Occidental's direct air capture (DAC) Stratos plant, according to a statement. "This joint venture demonstrates that Direct Air Capture is becoming an investable technology and BlackRock’s commitment in STRATOS underscores its importance and potential for the world," said Occidental's CEO Vicki Hollub.

Stratos is on a roll: Occidental announced it was selling 27.5k tons of DAC CO2 removal credits from Stratos to TD Bank earlier this week. Amazon also said it was purchasing 250k tons of carbon credits from Occidental’s DAC plant over the next decade last September.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Shell to boost US SAF production: Energy giant Shell is planning to scale up production of sustainable aviation fuel (SAF) in the US, whose federal and state legislators are offering an array of tax credits to encourage SAF production. Shell intends to channel its low-carbon spending to projects like EVs and biofuels to cut emissions. (Reuters)
• Indonesia bags USD 1 bn from green sukuk issuance: Indonesia raised USD 1 bn from a 10-year green sukuk issuance offered at a 5.6% yield. The proceeds will be used to finance or refinance green and blue energy projects. (Reuters)