NextGen Opens Request For Proposals 2024 For Carbon Removal Technologies

NextGen Opens Request For Proposals 2024 For Carbon Removal Technologies - Carbon Herald

NextGen – a collaboration between South Pole and Mitsubishi Corporation, bringing together leading multinational buyers to promote the market for high quality carbon removals, is opening its CDR Request for Proposals 2024 on May 31st to seek and provide funding to the next generation of carbon removal solutions. 

The application process for carbon removal technologies is open till June 14th, 2024. All CDR solutions are eligible to apply for the procurement round, including in the sub categories of biochar, biomass carbon removal and storage (BiCRS), direct air capture and storage (DACCS), enhanced rock weathering, product mineralization and other technologies. Projects should be at TRL stage 4 or later and towards reaching commercial operation before 2030. 

Relevant: NextGen CDR Invests In Neustark, Announces Upcoming Launch Of RFP On May 31st

NextGen aims to make the technologies accessible for buyers by derisking purchases through a portfolio approach and targets an average price of $200 per ton for its portfolio. The projects supported by NextGen should be certified under the ICROA endorsed standard to ensure baseline unification and create fungibility for buyers. 

The initial application, including a questionnaire designed to take around 30 minutes to fill in, is looking to see an overview of the key attributes related to the projects, with sufficient details that will allow NextGen to understand the technology, process, present status, location, expected timelines, scale and high-level commercial details so that it can be compared to other projects.

Relevant: “We Want To Send A Strong Signal That There Is Demand For Carbon Dioxide Removal” – Philip Moss, Chairman of NextGen CDR Facility

Any expected sale cost of the CDR technologies are not required to be submitted as price negotiation will take place at the later stages of the RFP process. However, as NextGen explains, the chance of being selected significantly increases if an indicative price range is provided. Any questions can be submitted to NextGen CDR team at rfp@nextgencdr.com.

“Since launching NextGen in 2022, the market for carbon removals has evolved rapidly. We want to use this RFP to explore new and innovative CDR technologies that can help us to continue catalyzing the industry, while we expand the portfolio for our buyers,” commented in a previous company announcement Phillip Moss, Chairperson at NextGen CDR.

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