Welcome to The DAC Dispatch, the monthly newsletter from the DAC Coalition, keeping you up-to-date with the evolution of all things DAC.

January 2024

The new year continued with the same momentum that 2023 finished with for the direct air capture industry. The wind in its sails was boosted with BCG making another major purchase of DAC credits from 1PointFive, as the the global consultancy continues to lean in on DAC.

With newly announced projects like Heimdal's 7,000 ton/yr Project Bantam in Oklahoma and the world's first fully integrated water management and up to 500,000 ton/yr carbon removal facility in Capture6's Project Octopus in South Korea, it is hard not to be excited about what lies ahead in 2024. 

In Europe, a critical month lies ahead with the completion of the Carbon Removal Certification Framework trilogues and the official announcement of the Industrial Carbon Management Strategy, which is set to have large ramifications from DACCS and BECCS on the continent.
⚖️ Leaked versions of the European Union's Industrial Carbon Management Strategy note a target of 4-75Mt by 2040 (depending on emission reduction levels of 75-90%) and potentially rising up to 114Mt for net-zero by 2050. With upcoming EU elections this year, the Negative Emission Platform put together a carbon removal manifesto with a list of demands.

📢 The DAC Coalition joined Carbon Market Watch in calling for the European Union to adopt separate targets for emissions reductions, land-based carbon sequestration and permanent removals in the European 2040 Climate Target. Our UK and Europe Lead, Aaron Benjamin, was quoted in a piece by EuroNews on this issue.

📃 Grant Faber of Carbon-Based Consulting published a new DAC community resource listing over 100 technology developers globally. 

💲BCG continued their support for DAC with a purchase of 21,000 tonnes from 1PointFive, which also announced a pre-purchase agreement with global commodity giant Trafigura at Davos, as part of their commitment to the First Movers Coalition.

💲 Octavia Carbon announced that Klimate.co has pre-purchased 950 tons of carbon credits from Project Hummingbird, Kenya's first DAC+Storage project.

💧🏗️ Capture6 announced Project Octopus in partnership with Korea Water Resource Corporation (K-Water) and Tomorrow Water. It will be the world’s first fully integrated facility for carbon removal and water management using seawater desalination. If fully scaled, the facility could capture up to 0.5Mt CO2/yr.

🏗️ Heimdal, in partnership with CapturePoint LLC, announced Project Bantam, which will develop a direct air capture and storage facility in Oklahoma capable of removing 7,000 tons of CO2 from the atmosphere annually.

🪨 CO2 Storage: Wyoming issued their first three Class VI permits. California Resource Corporation received approval on their permit application for storing CO2 in depleted oil and gas wells, and Louisiana was given full primacy over their Class VI program. 

🪨 Carbfix and Great Carbon Valley signed a Memorandum of Understanding to explore CO2 storage in Kenya. Carbfix also successfully demonstrated that dissolved CO2 in seawater is able to mineralize in basaltic formations.

⚖️ Carbon Dioxide Removal Leadership Act was reintroduced in the House of Representatives by Paul D. Tonko (NY-20) and Scott Peters (CA-52) supported by Senators Chris Coons (DE) and Sheldon Whitehouse (RI). The landmark bill would allocate $10Bn and outline annual price points and removal targets.

🏆 Bezos Earth Fund launched a $1m ideation prize for novel greenhouse gas removal solutions. Finalists will receive up to $50k in non-dilutive funding. Early submission deadline on the 1st February.

🏆 Climate Intervention Environmental Impact Fund opened up a new round of grant funding focusing on environmental impact assessment, impact modeling, and/or public-stakeholder outreach, including carbon removal, with grants up to $65k each. Deadline is 1st June.

🏆 The $50,000 Keeling Curve Prize is accepting submissions for 2024 with scope for 10 global projects that demonstrate the ability to reduce, replace, or remove greenhouse gases in the atmosphere and oceans. Deadline on 12th February.

Remove, the European carbon removal accelerator, have opened up applications for their 6th cohort. The deadline to apply is 1st March. Similarly, gener8tor, a DAC-focused accelerator funded by U.S Department of Energy and supported by Clean Air Task Force, has opened for applications. The deadline to apply is 18th February.

🧪 New research from ETZ Zurich sheds light on the use of photoacidic molecules capable of capturing and releasing CO2 triggered by light.
1. Carbon removals: 2024 watching brief (Christiaan Gevers Deynoot, Illuminem)
2. Stacking DAC for bankable carbon removal (Maeve Allsup, Latitude Media)
3. Direct Air Capture Is About to Go from Intriguing to Essential (Thomas Baker, BCG)
4. Is storing carbon dioxide in concrete a winning business model? (Joe Rigodanzo, Terraform Now)
5. On the road to net negative, carbon removal can help speed decarbonization (Sasha Stashwick and Anu Khan, Carbon180)

Hart Research and Breakthrough Energy

What resonates well with voters and the climate aligned folks when it comes to DAC? 
This report surveys over 1200 people and is a great guide for those working across marketing and communications within DAC.

A comprehensive investigation into the short (2024), medium (2030) and long (2050) insights for the carbon removal industry. The survey covers critical benchmarks such as purchaser priorities, price prediction, motivations and projected sales.
DACC Reports Library
Source: List of Investors in CDR organized by method and round size
cdr.fyi's Investment Landscape 2023
Deep Sky and Greenlyte Carbon Technologies (GCT) announced a new partnership wherein Greenlyte will install a DAC unit in Deep Sky's Alpha Lab test facility.

GCT also signed an agreement with Cella Mineral Storage to trial their technology with Cella's CO2 mineralization pilot in Kenya.
Climeworks and Svante signed a supply chain agreement to develop contactor blocks with first-of-a-kind filter technology.
"Designing a UK DAC Innovation Centre"
This month, we hosted a workshop alongside ETZ, Storegga and DAC Coalition members. The session focused on the needs, capabilities, and services required in a new scale-up incubator designed specifically for DAC in the North East of Scotland. 
If you would like to contribute to the initiative, contact us here.
Carbon Unbound USA 
21-23rd May 2024
New York City
Our Co-Founder and Senior Director, Jason Hochman, has been announced as a speaker at Carbon Unbound USA. 

Sign up here for early ticket access.
DAC Day 2.0 - Bipartisan Policy Center
8th February (Virtual/In-person) - Washington D.C
Join the Bipartisan Policy Center, Department of Energy, and the broader DAC community for a discussion on the future of DAC deployment in America. 
DAC Day 2.0 will feature robust conversations from our nation’s top thought leaders in DAC deployment, market creation, and hubs implementation. A networking reception will follow the day’s panel discussions.
CO2OL Down Workshops - Carbon Markets Watch
Join the DAC Coalition and other influential civil society organisations in attending European NGO Carbon Markets Watch series of workshops aimed at co-designing policy proposals that maximise the benefits of carbon removals and slash emissions in the European Union.
Details, dates and registration:
29th February - 1st workshop - online
21st March - 2nd workshop - in-person (Brussels)
25th April - 3rd workshop - in-person (Brussels) 
Looking to move your career into Direct Air Capture? Check out these positions and more on the DACC Jobs Board! All vacancies are made available on the DAC Coalition Jobs Board (powered by Climatebase) 
DACC Jobs Board
DAC Coalition website
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