Office: Carbon Management
Learn More: DAC Pre-Commercial EPIC Prize
Prize Amount: $3.7 million
Background Information
On April 17, 2024, U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) announced five finalists to receive a total of $1.5 million for developing commercialization programs that support technologies to reduce carbon dioxide pollution by removing it directly from the atmosphere. Accelerating development and deployment of carbon dioxide removal, including direct air capture technology advancements, is an essential element of the Biden-Harris Administration’s historic climate and clean energy agenda.
Direct air capture is a process that separates carbon dioxide from the air, helping to reduce the level of carbon dioxide already in the atmosphere. The separated carbon dioxide can then be safely and permanently stored deep underground or converted into useful carbon-containing products like concrete that prevent its release back into the atmosphere.
The Direct Air Capture EPIC Prize sponsors incubator teams that provide creative and impactful solutions and programs that support entrepreneurs and innovators in the direct air capture space. Effective incubators and accelerators help break down barriers that underserved and underrepresented innovators and entrepreneurs face when they develop new technology. From mentorship and networking to prototyping assistance and intellectual property management, incubators accelerate economic development, strengthen innovation, and expand domestic carbon-removal technology development and manufacturing.
Each finalist team will receive $300,000 in cash prizes and is eligible to advance to the “Prove It” Phase of the prize competition to demonstrate the success of their solution implementation and compete for a grand prize of $750,000 and runner-up prize of $250,000 in cash awards.
This funding is provided from the Bipartisan Infrastructure Law Sections 41005a.
Selectees
Learn more about the finalist teams and their winning “Move It” Phase solutions:
- Activate Global, Inc. — Berkeley, CA
- Impossible Labs, Inc. (Airminers)
- gener8tor Management LLC (gener8tor DAC Accelerator)
- Newlab LLC
- OxiCool, Inc.
Learn about the 13 semifinalists announced on August 28, 2023 here.
Eligibility
Eligible applicants include private entities (for-profits and nonprofits) and academic institutions.
Read the official rules for more information on eligibility.
Prizes
The DAC EPIC Prize offers up to $3.7 million in prizes to successful incubator competitors.
The DAC EPIC Prize is a three-phase competition for incubators to propose new programming within incubators to support innovators working on equitable, hard-tech DAC solutions. Cash prizes will be awarded to those teams that make the most progress and impact over the course of the prize competition period.
Webinar
An informational webinar was hosted on April 12, 2023 at 3:00PM ET to discuss phase 1 of the prize as well as the competition rules and eligibility.
Key Dates
| Phase 3 Anticipated Launch and Prize Open | 04/17/2024 |
| Phase 3 Anticipated Submission Deadline | 11/13/2024 |
Additional Information
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Last Updated: April 26, 2024