Published by Todd Bush on May 31, 2024
LOS ANGELES, May 29, 2024 (GLOBE NEWSWIRE) -- CarbonCapture Inc. (CarbonCapture), a leading US-based direct air capture (DAC) company, today announced it has won Phase 1 of the U.S. Department of Energy’s (DOE) Carbon Dioxide Removal (CDR) Purchase Pilot Prize. The prize is awarded to developers in the U.S. that can deliver CDR credits with durable storage and a robust monitoring, reporting, and verification (MRV) plan. As a semifinalist in the competition, CarbonCapture will now compete to win up to $3 million for the sale of their credits to the U.S. government.
One of CarbonCapture's modular direct air capture systems under development at their Los Angeles headquarters
>> In Other News: Entering the US Clean Fuels Market: Haffner Energy Inc. Is Open for Business
"Winning an initial award as part of the DOE’s CDR purchase pilot program confirms that our DAC technology and project development—with a strong community engagement focus—are on the right track,” said Patricia Loria, VP of Business Development at CarbonCapture Inc. “We’re excited to drive our projects forward and, hopefully, begin supplying the U.S. government with durable, scalable, and sustainable carbon removal credits.”
The CDR Purchase Pilot Prize marks the first initiative, and one of the first major government procurement programs, by the U.S. Government to directly purchase CDR from domestic projects in order to achieve the aims of its Carbon Negative Shot of less than $100 per net tonne of carbon dioxide-equivalent removed. Through this prize, the DOE will grow the domestic CDR economy and workforce, improve market efficiency and transparency, and establish best practices to advance and improve the most effective CDR technologies. For Phase 2 of the competition, CarbonCapture will negotiate delivery contracts with the DOE, identify and select an independent party to implement its MRV plan, solicit purchase commitments from commercial CDR buyers, and develop a robust community benefits plan.
CarbonCapture develops and deploys direct air capture (DAC) machines that can be connected in large arrays to remove massive amounts of carbon dioxide from the atmosphere. With a patented modular open systems architecture, the company's DAC systems allow for plug-and-play upgrades, mass production, unlimited scalability, and rapid technology iterations.
For more information, please visit CarbonCapture.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🪣 Shovels Hit the Ground on California’s First Carbon Storage Hub 🤝 CHARBONE Announces a Strategic Alliance with a Leading U.S. Industrial Gas Producer 📜 Gold Standard Approves M...
Inside This Issue 🧠 From Mars to AI: Fuel Cells Power $28B Boom 🏆 Svante Technologies Wins Global Award for Breakthrough Carbon Capture Innovation 🚧 California Resources Corporation Breaks Ground ...
Inside This Issue 💰 Where the $6.5 Trillion Goes: Carbon Tech Fights for Funding 🔋 Douglas PUD Commission Cuts Ribbon At Renewable Hydrogen Production Facility 🍁 Quinbrook Acquires First Canadian ...
Microsoft Signs New Deal To Capture Carbon In Rocks And Soil
UNDO, an enhanced rock weathering (ERW)-focused carbon removal project developer, announced that it has signed a new agreement with Microsoft to permanently remove 28,900 tonnes of CO2 from the atm...
October 21, 2025 at 11:00 AM EDT Ship-to-ship fueling operation in Long Beach demonstrates scalable, low-carbon marine fuel solution aligned with global climate goals NORTH VANCOUVER, BC AND HOUS...
October 21, 2025 On-time, successful delivery demonstrates scalability of Plug’s European hydrogen production capacity and trucking fleet to support Germany’s energy transition SLINGERLANDS, N.Y....
Sustainable Jet Fuel Developer Moves Priority From SD to ND Amid Summit Pipeline Delays
Gevo Inc. Plans Sustainable Aviation Fuel Shift From South Dakota To North Dakota Amid Summit Carbon Pipeline Delays Gevo Inc., a Colorado-based developer of sustainable aviation fuel (SAF), annou...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.