Notice of Intent Regarding Launching a Voluntary Carbon Dioxide Removal Purchasing Challenge; DOE Carbon Dioxide Removal Purchasing (CO2RP) Challenge

Issuing agencies

Abstract

The Department of Energy (DOE or the Department), Office of Fossil Energy and Carbon Management (FECM) is issuing this Notice of Intent (NOI) to notify interested parties of its intent to launch a Voluntary Carbon Dioxide (CO<INF>2</INF>) Removal Purchasing (CO<INF>2</INF>RP) Challenge. The CO<INF>2</INF>RP Challenge will call on other organizations to purchase small and growing quantities of high-quality, permanent CO<INF>2</INF> Removal (CDR) credits. The CO<INF>2</INF>RP Challenge will operate in coordination with DOE's Carbon Dioxide Removal Purchase Pilot Prize (CDR Purchase Prize), through which the Department will award up to $30,000,000 across ten prize winners that successfully deliver their committed CDR credits. In addition, the Challenge will invite CDR suppliers that were not selected for or did not apply to the DOE CDR Purchase Prize to seek designation as a "next wave" supplier that demonstrates promise for other future DOE or private sector CDR credit purchasing efforts. CDR credit suppliers participating in the CO<INF>2</INF>RP Challenge through pursuit of designation within DOE's list of "next wave" CDR credit providers will submit CDR credit proposals to DOE for review.