Carbon Dioxide Removal Purchase Pilot Prize
Stored: Carbon Dioxide Removal Purchase Pilot Prize
| Type | Program |
|---|---|
| Sponsor Organization | Office of Fossil Energy and Carbon Management |
| Top Organization | Department of Energy |
| Creation Legislation | Bipartisan Infrastructure Law |
| Website | Website |
| Purpose | The Carbon Dioxide Removal Purchase Pilot Prize enables companies to sell high-quality carbon dioxide removal credits to DOE. It aims to catalyze a CDR market and drive innovation for net-zero goals. |
| Program Start | 2023 |
| Initial Funding | $35 million |
| Duration | Ongoing |
| Historic | No |
Carbon Dioxide Removal Purchase Pilot Prize is a Department of Energy initiative managed by the Office of Fossil Energy and Carbon Management that awards up to $35 million across the United States to companies delivering verified carbon dioxide removal (CDR) credits, engaging over 2,000 stakeholders and recognizing 24 semifinalists as of 2025. Launched in September 2023 with funding from the Bipartisan Infrastructure Law, the prize has advanced CDR technologies through three phases, with semifinalists announced in May 2024 receiving $1.2 million, and 2025 efforts supporting post-Hurricane Helene resilience by scaling CDR markets and integrating high-quality credits into DOE’s procurement strategy.
Goals
- Catalyze a market for high-quality CDR credits through DOE purchases.[1]
- Drive innovation and commercialization of CDR technologies.
- Support net-zero emissions by 2050 with rigorous verification standards.
Organization
The Carbon Dioxide Removal Purchase Pilot Prize was sponsored by the Office of Fossil Energy and Carbon Management (FECM) within the Department of Energy, headquartered in Washington, D.C. Funding came from the Bipartisan Infrastructure Law, supporting a team of DOE and National Lab experts managing the prize across all 50 states, collaborating with over 2,000 partners including private companies, nonprofits, and academic institutions, administered by the National Renewable Energy Laboratory (NREL) under FECM oversight.
The leader at the Department of Energy level was the Assistant Secretary for Fossil Energy and Carbon Management, currently Brad Crabtree (as of February 22, 2025), directing the prize’s implementation.
History
The Carbon Dioxide Removal Purchase Pilot Prize was established in 2023 under the Bipartisan Infrastructure Law, signed into law on November 15, 2021, launching with a $35 million announcement on September 29, 2023. It progressed with Phase 1 submissions by December 2023, named 24 semifinalists in May 2024 with $1.2 million awarded, and by 2025, advances Phase 2 contract development, with 2025 efforts post-Hurricane Helene enhancing CDR market resilience and supporting the Carbon Negative Shot’s $100/ton goal by 2032.
Funding
Initial funding in 2023 was $35 million from the Bipartisan Infrastructure Law. Funding began in 2023 and continues, with $1.2 million awarded to 24 semifinalists in May 2024, supporting up to 10 grand prize winners with $3 million each in Phase 3, with no end date as the prize sustains ongoing CDR market growth efforts like 2025’s resilience focus.
Implementation
The program was implemented through a three-phase competition—concept, contract development, and credit delivery—engaging companies across four CDR pathways: direct air capture, biomass, enhanced rock weathering, and managed sinks. It operates continuously with no end date, delivering credits across all 50 states, with 2025 efforts post-Helene scaling CDR via contracts and third-party verification.
Related
External links
- https://www.energy.gov/fecm/voluntary-carbon-dioxide-removal-purchasing-challenge
- https://www.energy.gov/fecm/office-fossil-energy-and-carbon-management - FECM Overview
- https://www.doi.gov/ - Department of the Interior Overview
- wikipedia:United States Department of Energy
Social Media
References
- ↑ "Carbon Dioxide Removal Purchase Pilot Prize Overview," U.S. Department of Energy, https://www.energy.gov/fecm/voluntary-carbon-dioxide-removal-purchasing-challenge, accessed February 22, 2025.