It will be built in Texas, USA and will sequester 500,000 tons of carbon dioxide each year. It will be called the Direct Air Capture System (DAC).
In this way, an amount of carbon dioxide will be removed from the atmosphere and buried deep in the ground using pipes.
The project will be funded by the US government and will be fully operational in 2025. The owner company will be Occidental Petroleum which is an oil company and aims to deal with climate change as much as possible.
Experts say that by dumping carbon dioxide deep into the ground, the conditions will be created for more fossil fuel to be produced. In this way, humanity will be able to continue mining and exploit the products produced, for several more decades.
[Source: http://www.theguardian.com]

