Occidental subsidiary Oxy Low Carbon Ventures (OLCV) signed a memorandum of understanding with TAE Technologies to explore commercial opportunities for use of TAE’s fusion technology to provide emissions-free power and heat for direct air capture (DAC) plants.
TAE’s fusion technology works by combining (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.
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.
“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,” said Frank Koller, vice-president, power development, OLCV.
