seeing less co2

DOE doles out funding to 4 Houston tackling carbon dioxide removal tech

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.

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 company removes 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 company undertakes 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.

Trending News

A View From HETI

Al Vickers, XGS Energy's new COO, and Richard Chong, the company's new CFO. Photos courtesy XGS/LinkedIn

XGS Energy, a Houston-based developer of geothermal power systems, has added several energy industry veterans to its C-suite this summer.

The company named Al Vickers as its new chief operating officer earlier this month. Vickers will replace Ghazal Izadi in the role, as she moves into the chief growth officer position.

Vickers previously served as CEO of bp's U.S. Low Carbon Energy business and most recently was COO of Houston-based Grid United, which develops next-generation transmission infrastructure.

“I have spent my career developing, building, and operating large, complex energy infrastructure, and I am excited to work with XGS’s proven technology, which is ready to deliver clean, round-the-clock power at the scale the grid and customers need,” Vickers said in a news release. “XGS sits at the intersection of innovation, affordability, demand growth, responsible infrastructure development, and long-term energy resilience. I’m excited to roll up my sleeves and apply best practices from both oil and gas and infrastructure development to deliver gigawatt-scale geothermal projects.”

Kurt Fricker, who most recently held leadership roles at Hess Corporation, was also announced as XGS's new chief procurement officer.

The hires come shortly after XGS announced Richard Chong as its new chief financial officer in May.

Chong joins XGS from Houston-based power producer Calpine, where he most recently was vice president of finance. His work there included leading $2.25 billion in financing for Geysers, the world’s largest geothermal power complex.

Chong says XGS’ proven technology and the rising demand for clean power will help the company execute on its multi-gigawatt pipeline.

“I look forward to applying the experience I’ve built over two decades in energy finance to help XGS deliver clean, reliable power to customers and unlock the massive development opportunity ahead for next-generation geothermal,” Chong said in the release.

XGS’ first project is a 150-megawatt geothermal facility in New Mexico. It will supply around-the-clock electricity to the grid operated by Public Service Co. of New Mexico in support of Meta data centers.

XGS recently tapped Houston-based energy technology company Baker Hughes to provide engineering services for the New Mexico project.

XGS’ geothermal system uses thermally conductive materials to deliver affordable energy anywhere hot rock exists — without the need for water resources or specific geological conditions. This results in lower-risk projects, more site options, easier permitting and faster deployment.

Since 2023, XGS has raised nearly $57 million in venture capital.

XGS launched in 2008 in Palo Alto, California, as Geothermic Solution. In conjunction with its Series A round in 2023, the company rebranded to its current name. The company recently moved its headquarters to Houston, according to the Houston Business Journal.

Trending News