Latham & Watkins Advises 1PointFive on Landmark Transaction to Sell Direct Air Capture Carbon Removal Credits to Microsoft

1PointFive, a carbon capture, utilization, and sequestration (CCUS) company, announced it has entered into an agreement with Microsoft to sell 500,000 metric tons of carbon dioxide removal (CDR) credits over six years to support Microsoft’s carbon removal strategy. The agreement is the largest single purchase of CDR credits enabled by Direct Air Capture (DAC) to date and highlights the increasing adoption of this climate technology as a solution to help organizations achieve net-zero emissions.

Latham & Watkins LLP represents 1PointFive, an affiliate of Occidental Petroleum, in the transaction with a team led by Michael Dreibelbis and Justin T. Stolte, with support from Sosi Biricik and assistance from Georgia Bellett, Brett Frazer,* and Matthew Green.

*Admitted to practice in Illinois only.