Carbon Engineering IPO
Carbon Engineering developed direct air capture technology to remove CO2 from the atmosphere for storage or conversion into low-carbon fuels. The Canadian company was a pioneer in large-scale direct air capture and attracted significant attention from investors and energy companies before being acquired by Occidental Petroleum.
Key Facts
| Industry | Direct Air Capture |
| Founded | 2009 |
| Headquarters | Squamish, BC, Canada |
| Employees | ~200 |
| Website | carbonengineering.com |
| Funding | Acquired by Occidental Petroleum for $1.1B in 2023 |
About Carbon Engineering
Carbon Engineering is a clean technology company that has developed large-scale direct air capture (DAC) technology to remove CO2 directly from the atmosphere and convert it into useful products or store it permanently underground. The company's proprietary technology can capture CO2 from ambient air and either produce synthetic fuels or provide CO2 for permanent geological storage. Carbon Engineering operates one of the world's first commercial-scale DAC facilities and has demonstrated the technical feasibility of atmospheric CO2 removal at industrial scales.
The company's technology addresses the growing need for negative emissions solutions to combat climate change, particularly for hard-to-decarbonize sectors like aviation and shipping that may rely on synthetic fuels produced from captured CO2. Carbon Engineering has attracted significant investment and partnerships with major energy companies and governments interested in carbon removal technologies. The company was acquired by Occidental Petroleum in 2023, providing it with the resources and industrial expertise needed to scale its technology globally.
IPO Status
Carbon Engineering was acquired by Occidental Petroleum in 2023 for approximately $1.1 billion, ending any potential for an independent IPO. The acquisition came after Carbon Engineering had raised significant venture funding and developed commercial-scale direct air capture technology. Occidental sought to integrate Carbon Engineering's technology into its direct air capture projects and low-carbon fuel production. Prior to the acquisition, Carbon Engineering had been considered a potential IPO candidate given its leading position in direct air capture technology and partnerships with major energy companies. However, Occidental's acquisition provided the company with the capital and resources needed to scale its technology while eliminating the need for a public offering.
Competitors
Frequently Asked Questions
Does Carbon Engineering have a stock?
No, Carbon Engineering never had an IPO. The direct air capture technology company was acquired by Occidental Petroleum in 2023 before going public.
When is the Carbon Engineering IPO date?
Carbon Engineering will not have an IPO since it was acquired by Occidental Petroleum in 2023. The company is no longer independent and cannot go public separately.
How can I buy Carbon Engineering stock?
You cannot buy Carbon Engineering stock directly since it was acquired by Occidental Petroleum. If you're interested in exposure to Carbon Engineering's technology, you could consider investing in Occidental Petroleum (NYSE: OXY).
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