Matheson Tri-Gas, Inc (MATHESON) entered into an oxygen supply agreement with 1PointFive, which engages in the direct air capture (DAC)* business, capturing CO2 directly from the atmosphere, to provide oxygen to its first DAC plant being constructed in Texas.
Oxygen is used in the DAC process and CO2 generated in the DAC process is safely isolated in the storage layers. This DAC plant is scheduled to start operations around mid-2025, and is projected to capture 500,000 tons of CO2 annually, making it one of the largest in the world. The Group is actively seeking potential customers and projects that advance the realization of a carbon-neutral society, while carefully examining and expanding its business.
* Direct air capture (DAC): The technology that 1PointFive will utilize, which was developed by Carbon Engineering of Canada, absorbs CO2 from the air using a potassium hydroxide (KOH) solution.