10:07 AM EDT, 07/09/2024 (MT Newswires) -- Occidental Petroleum's ( OXY ) carbon capture unit 1PointFive said Tuesday it has signed a deal with Microsoft ( MSFT ) to sell 500,000 metric tons of carbon dioxide removal credits over six years to the tech giant.

Financial details weren't provided.

The carbon credits for Microsoft ( MSFT ) will come from Stratos, a facility under construction in Texas, 1PointFive said, adding companies are increasingly using the climate technology to reach net-zero emissions.

Under the deal, the captured carbon dioxide underlying the credits for Microsoft ( MSFT ) will be stored via subsurface saline sequestration and won't be used to produce oil and gas, 1PointFive said.

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