The US Department of Energy (DOE) is now accepting applications for two direct air capture (DAC) prizes that are focused on pre-commercialization.
As one of the main pitfalls on the way to decarbonization at scale, especially where technological solutions like DAC are concerned, remains high costs, DOE has launched yet another initiative to support the development of the novel climate solution.
This new program, called the American-Made DAC Prizes, offers more than $7 million in prizes to support the advancement of DAC technology.
The initiative is sponsored by DOE’s Office of Fossil Energy and Carbon Management and features two separate prizes: the DAC Pre-Commercial Energy Program for Innovation Clusters (EPIC) Prize (aka the DAC EPIC Prize) and the DAC Pre-Commercial Technology Prize (aka the DAC Technology Prize), whereas both are focused on addressing the process of making an idea a marketable product.
However, both will do in slightly different ways.
The DAC EPIC Prize will aim to support DAC entrepreneurs and innovators and encourage teams of incubators to offer their solutions to minimizing the commercialization obstacles in the sector with up to $3.7 million in prizes.
As the teams move through the three competition phases (Think It, Move It, and Prove It), their prizes will increase in size.
Applications for the first phase of the DAC EPIC Prize can be submitted by June 22, and on April 12 at 3pm ET a webinar with a live Q&A session will be held to answer any questions applicants may have.
The DAC Technology Prize, on the other hand, has a more specific focus on the technological aspect of things and offers up to $3.2 million in awards and $800,000 in technical assistance.