On December 19, 2023, the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) announced seven semifinalists for the development phase of the Direct Air Capture Pre-Commercial Prize to receive a total of $1.05 million in cash awards and technical assistance for technology solutions that reduce carbon dioxide (CO2) pollution by removing it directly from the atmosphere. Advancing developments in carbon dioxide removal, including direct air capture technology, is imperative to attaining the Biden-Harris Administration’s historic climate and clean energy agenda.
The Direct Air Capture Technology Prize helps advance direct air capture technologies by sponsoring teams that identify a critical need in the industry, develop a solution to address this gap, and test the idea to a degree of scale. It focuses on the steps of concept development and entrepreneurship needed to prepare technologies and businesses for commercialization. It is part of a suite of separate but connected prizes to support direct air capture technology advancement with a focus on community and labor engagement, creating high-quality jobs, and providing economic and environmental benefits to affected communities.
Holocene was 1 of 7 semi-finalist awardees, along with Nuxsen, Giner, Capture6, Carbon to Stone, Elysia, and CNCE.
Each semifinalist receives $100,000 in cash prizes and $50,000 in technical assistance. The semifinalists are also eligible to advance to the “Design” Phase of the prize competition to demonstrate momentum toward implementation of their solutions. “Design” Phase winners will advance to the final “Deliver” Phase, where they are asked to construct and test solutions, as well as develop strategy for scalability and partnerships, to compete for a grand prize of $1 million.
ABOUT U.S. DEPT. OF ENERGY, FOSSIL ENERGY & CARBON MANAGEMENT OFFICE
The U.S. Department of Energy’s Office of Fossil Energy and Carbon Management (FECM) is focused on investing in technologies to reduce carbon emissions and minimize the environmental impacts of fossil fuel generation and use.
ABOUT HOLOCENE CLIMATE CORPORATION
Holocene is a direct air capture (“DAC”) technology developer and carbon removal service provider harnessing organic chemistry, and the abundant elements therein – carbon, nitrogen, hydrogen, and oxygen – to remove carbon dioxide directly from the atmosphere in support of restoring the climate stability and prosperity of our namesake, the Holocene Epoch. Holocene is proud to call some of the biggest names in direct air capture and climate tech commercialization as partners — including Breakthrough Energy, XPRIZE, Frontier Climate, Stripe, Shopify, Klarna, the DOE, and more.