Carbon Dioxide Removing Acquire Pilot Prize Semifinalists Webinar

Carbon Dioxide Removing Acquire Pilot Prize Semifinalists Webinar

The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) hosted a stakeholder briefing about the semifinalists selected for DOE’s historic carbon dioxide removal purchase prize that will create a just and sustainable framework for scalable carbon management and help develop a carbon dioxide purchasing market to encourage technology innovation. The 24 semifinalists will receive a total of $1.2 million to scale up their carbon dioxide removal technologies.

Funded by the Bipartisan Infrastructure Law, 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.