🇺🇲 🔥 Breaking: DoE Announcement - CDR Public Procurement takes a big leap forward 🔥 🇺🇲

🏅 The good news keep rolling in from the U.S. today! The U.S. Department of Energy (DOE) Office of Fossil Energy and Carbon Management just announced the Phase 1 winners of its $35m pioneering public procurement of carbon dioxide removal (hashtag#CDR).

💰 This first phase gives out $1.2 million through $50k grants to propel innovations in hashtag#CDR across four sectors: direct air capture (hashtag#DAC), biomass carbon removal and storage (hashtag#BiCRS), enhanced carbon mineralization, and carbon sinks.

👏 As we celebrate the 24 winners, it’s time to gear up for Phase II! Congrats to all of you, including Lithos Carbon, Climate Robotics, Eion, Graphyte , Charm Industrial, CarbonCapture Inc., Mati Carbon, Climeworks, Ebb Carbon, Heirloom, Carbon Lockdown , and Vaulted Deep.

Phase 2️⃣ Compete for an additional substantial $3.75 million now on the table, with ten grants of $375k each for technologies towards commercial viability and with negotiations of delivery contracts with DOE.

Phase 3️⃣ will award ten $3 million grants with an objective of at least 3,000 net tonnes CO2 removed over of 36 months.

💰 A reminder of the importance of public procurement to scale CDR: it represents about 13% of GDP in OECD countries.

🙌 Earlier today, key officials including Treasury Secretary Janet Yellen, outlined guidelines aimed at directing private capital towards robust decarbonization efforts through responsible participation in Voluntary Carbon Markets (VCM) - see comment section.

🌎 This dual approach—advancing public procurement alongside enhancing private market participation—highlights a comprehensive strategy to scale the CDR industry and develop a diversified technology portfolio that is crucial for our sustainable future.

💪 It’s amazing to see the momentum building in the U.S. Yes, the amounts are still small. But what counts here is not the money but the learning: other governments will be able to piggyback off the all the experiences we are gathering.

👏 Shout out to the team at the DoE leading these efforts: Noah Deich, Slade Sinak, Rory Jacobson and many others.

🔗 See here for the official press release: https://lnkd.in/duHxDya8

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