Climate Vault has opened the 2024 Request For Proposals (RFP) process, inviting carbon dioxide removal (CDR) innovators to apply for this year’s Carbon Dioxide Removal Innovation Award.
Companies selected as winners will receive vital support and guidance from Climate Vault as they set out to grow and scale their decarbonization operations.
As the award organizer, Climate Vault has highlighted that the aim of this competition is to pin down high-quality carbon removal advancements that deliver impactful, climate-relevant solutions that need a support system to progress to next-level scopes.
In the 2023 edition of the contest, Climate Vault recognized the potential of CO2 removal trailblazers Carbon Lockdown and Octavia Carbon, who were selected as winners of the Carbon Dioxide Removal Innovation Award.
This year, the competition has been optimized to bring a more streamlined experience for applicants and cut down in half the time required for reviewing proposals.
The RFP program was introduced as a means to catalyze the development of impactful CDR solutions that correspond with the Climate Vault, Inc. 501(c)(3) Tech Chamber’s standards for high-quality CDR solutions.
With this filtering system in place, Climate Vault is able to guarantee that only the solutions that bring on the most meaningful environmental benefits will be added to their curated sales portfolio of premium CDR projects.
Relevant: Climate Vault Backs Octavia Carbon & Carbon Lockdown
All received applications will be reviewed to make sure they are in line with the standards laid out by the Climate Vault Tech Chamber.
Along with having verifiable long-term benefits, proposals also need to include measurable evidence of innovation, as well as impact and scalability.
Additionally, to qualify for consideration, the submitted carbon dioxide removal innovation needs to be supported by straightforward and concise metrics and results.
The team that will access the submitted proposals will monitor to make sure that answers provided on the application in regard to the CDR pathway are relevant to the criteria applicable to the category they are submitted for.
Read more: Octavia Carbon Receives The Highest Possible Rating From BeZero
