1PointFive, a carbon capture, utilization, and sequestration company, has leased over 55,000 acres in Texas to create the Bluebonnet Hub, a carbon capture and sequestration facility capable of storing approximately 1.2 billion metric tons of carbon dioxide (CO2). This hub is strategically located near industrial facilities on the Texas Gulf Coast, from Beaumont to Houston. It is expected to become operational in 2026, securely storing captured CO2 in saline formations not related to oil and gas production. The company has conducted well drilling and assessments to confirm the site's suitability and plans to apply for Class VI permits in 2023. Additionally, 1PointFive is collaborating with Enterprise Products Partners L.P. on a CO2 transportation solution to collect emissions from regional sources and transport them to the Bluebonnet Hub.