Carbon Dioxide Removal Purchase Pilot Prize (CDR Purchase Pilot Prize)

Carbon Dioxide Removal Purchase Pilot Prize (CDR Purchase Pilot Prize) is sponsored by U.S. Department of Energy (DOE). This prize offers awards to teams that provide impactful Carbon Dioxide Removal (CDR) concept proposals, develop and refine these plans, and ultimately deliver their specified CDR credits.

Funding Notice: Carbon Dioxide Removal Purchase Pilot Prize | Department of Energy Funding Notice: Carbon Dioxide Removal Purchase Pilot Prize Office : Carbon Management Learn More : Carbon Dioxide Removal Purchase Pilot Prize Prize Amount : $35 million On May 28, 2024 , the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) announced 24 semifinalists to receive a total of $1.

2 million to scale up their carbon dioxide removal technologies. The Carbon Dioxide Removal Purchase Pilot Prize allows companies to compete for the opportunity to deliver carbon dioxide removal credits directly to DOE. Carbon removal credits can be purchased by any individual or entity that is interested in responsibly managing their past and/or future carbon dioxide emissions.

This program will help catalyze the development of carbon dioxide removal markets, demonstrates rigorous monitoring, measurement, reporting, and verification practices through third-party scientific validation, and it provides a model for workforce and community benefits for high-quality credits. This funding is provided from the Bipartisan Infrastructure Law Section 41005b.

The semi-finalists will help scale a diversity of carbon dioxide removal approaches across four pathways, including direct air capture with storage; biomass with carbon removal and storage; enhanced rock weathering and mineralization; and planned or managed carbon sinks.

Semifinalists will now compete in Phase 2 of the prize where they will produce a carbon dioxide removal credit purchase contract, including measurement, reporting, and verification standards and commercial off-take terms. Up to 10 semifinalist teams will be chosen as grand prize winners, with each team receiving a Carbon Dioxide Removal Credit Purchase Agreement award of up to $3 million for the sale of their credits to DOE.

Global Thermostat and Fervo Energy A detailed list of the semi-finalists can be found here .

This prize has four areas of interest: Direct air capture (DAC) storage technologies Biomass with carbon removal and storage (BiCRS) pathways Enhanced geological weathering or mineralization pathways, including both ex-situ and surficial approaches Alternative planned or managed carbon sinks, including natural and artificial approaches in terrestrial and upper hydrosphere environments with demonstrable durable storage consistent with secure geologic storage or equivalent Only winners of Phase 1 (semifinalists) are eligible to compete in Phase 2 and will be scored on a series of criteria outlined in this rules document.

Only winners of Phase 2 will be eligible to compete in Phase 3 An informational webinar was hosted on September 29, 2023 to provide an overview of the CDR Purchase Pilot Prize, objective, structure, and request for engagement. An informational webinar was hosted on May 28, 2024 about the semifinalists selected for DOE’s historic carbon dioxide removal purchase prize.

Attending the informational webinar is not mandatory and will not positively or negatively impact the overall review of any applicant submissions. Learn more about the Carbon Dioxide Removal Purchase Pilot Prize DOE Announces $1. 2 Million To Accelerate America's Carbon Dioxide Removal Industry Learn More about DOE Announces $1.

2 Million To Accelerate America's Carbon Dioxide Removal Industry Carbon Dioxide Removal Purchase Pilot Prize Phase 1 Semifinalists Learn More about Carbon Dioxide Removal Purchase Pilot Prize Phase 1 Semifinalists Last Updated: May 30, 2024