seeing less co2
DOE doles out funding to 4 Houston tackling carbon dioxide removal tech
Four Houston companies have received $50,000 each from the U.S. Department of Energy to further develop their carbon dioxide removal technology.
The four companies are among 24 semifinalists in the agency’s Carbon Dioxide Removal Purchase Pilot Prize program that were chosen to receive a total of $1.2 million for their commercial-scale CO2 removal technology.
The funding comes in the form of the Department of Energy’s purchase of CO2 removal credits.
“The Carbon Dioxide Removal Purchase Prize is a first-of-a-kind initiative to catalyze the market for high-quality CO2 removal credits, helping jumpstart a critical decarbonization tool,” U.S. Energy Secretary Jennifer Granholm says in a news release.
The Carbon Dioxide Removal Purchase Pilot Prize project will provide up to $35 million in cash awards. The 24 semifinalists will be whittled down to as many as 10 finalists that’ll receive up to $3 million each.
The four Houston companies that have been named semifinalists are:
- Climate Robotics. The company’s mobile platform produces and applies biochar — organic waste material or biomass — to store CO2.
- Mati Carbon. The companyremoves carbon dioxide and stores it in rocks to boost rice productivity in the U.S.
- 1PointFive. The company, a subsidiary of Occidental Petroleum, is building facility that will eventually capture up to 500,000 metric tons of CO2 per year.
- Vaulted Deep. The companyundertakes geologic storage of slurried organic waste for permanent removal of CO2.
Granholm says the DOE prize program and the Biden administration “are giving the private sector the tools they need to make real contributions to our fight against the climate crisis and deliver real benefits to communities across the nation.”
Three of the companies selected — Vaulted Deep, Mati Carbon, and Climate Robotics — were also recently named finalists in Elon Musk's XPRIZE's four-year global competition is designed to combat climate change with innovative solutions.