Brittany Sakowitz, Allan Kirk, Patrick Moneypenny, Roald Nashi, Gregory Howling, Linda Zang, Jacqueline Trudeau, David Wheat, William Dong, Sam Kamyans, Daisy Darvall
January 24, 2026
Kirkland Advises BlackRock on Joint Venture with Occidental to Develop STRATOS, the World’s Largest Direct Air Capture Plant

1 min
AI-made summary
- Kirkland & Ellis advised BlackRock Inc
- on a $550 million investment in the development of STRATOS, the world's largest Direct Air Capture facility, located in Ector County, Texas
- BlackRock, through its Diversified Infrastructure business, entered a joint venture with Occidental's subsidiary 1PointFive to own STRATOS
- The facility is designed to capture up to 500,000 tonnes of carbon dioxide annually and is expected to be operational by mid-2025, with construction currently 30 percent complete.
Kirkland & Ellis advised BlackRock Inc. (NYSE: BLK) on its $550 million investment on behalf of clients in the development of STRATOS, the world's largest Direct Air Capture facility, in Ector County, Texas. Through a fund managed by its Diversified Infrastructure business, BlackRock has signed a definitive agreement to form a joint venture with Occidental (NYSE: OXY), through its subsidiary 1PointFive, that will own STRATOS. STRATOS is designed to capture up to 500,000 tonnes of carbon dioxide per year and is expected to provide cost-effective solutions that companies in hard-to-decarbonize industries can use in conjunction with their own emissions reduction programs. Construction activities for STRATOS are approximately 30 percent complete and the facility is expected to be commercially operational in mid-2025. Read the transaction press release The Kirkland team was led by corporate partners Brittany Sakowitz, Allan Kirk and Patrick Moneypenny; debt finance partners Roald Nashi, Gregory Howling, Linda Zang and Jacqueline Trudeau; tax partners David Wheat, William Dong and Sam Kamyans; and technology & IP transactions partner Daisy Darvall.
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Brittany Sakowitz, Allan Kirk, Patrick Moneypenny, Roald Nashi, Gregory Howling, Linda Zang, Jacqueline Trudeau, David Wheat, William Dong, Sam Kamyans, Daisy Darvall
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