Forward leap.

Global investment giant Blackrock's decision to invest $550 million into Occidental's direct air capture facility in Texas is a crucial test of economics for the technology, reports Reuters.

Blackrock's investment, representing 42% of the project's $1.3 billion cost, shows the firm's faith in a technology that is still too expensive, but deemed essential for decarbonization.

Amena H. Saiyid

Washington D.C. Correspondent