1PointFive, the carbon capture and storage subsidiary of Occidental, has announced that Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) has purchased a fresh tranche of carbon dioxide removal (CDR) credits generated by its Direct Air Capture (DAC) technology.
The deal marks NYK’s second purchase of credits from 1PointFive and is designed to offset residual operational emissions that cannot be cut through efficiency measures or low-carbon fuels. The agreement underscores how hard-to-abate sectors such as shipping are beginning to integrate scalable carbon removal into their decarbonisation strategies.
According to NYK, the global shipping industry emits around one billion tonnes of CO₂ annually. Even if 90% of those emissions are eliminated through operational changes, the sector would still need to remove roughly 100 million tonnes each year to deal with residual emissions.
“Together with 1PointFive, we aim to contribute not only to the decarbonisation of international shipping, but to decarbonisation worldwide,” said Akira Kono, Executive Vice-President of NYK. He added that the company is pursuing a multifaceted approach that includes fuel-efficient vessels, low-carbon fuels such as biofuels, and operational efficiency improvements, with CDR needed to address what cannot be abated.
Anthony Cottone, President and General Manager of 1PointFive, said: “We’re excited to expand our partnership with NYK, who has taken a leadership approach in decarbonisation, and to demonstrate how Direct Air Capture is uniquely positioned to deliver durable and verifiable carbon removal.”
The credits for NYK will come from STRATOS, 1PointFive’s first DAC facility in Texas, which is expected to begin operations this year. The project draws on Occidental’s decades of carbon management expertise to deliver commercial-scale carbon removal.
