Climate Vault Launches RFP Round for Innovative Carbon Dioxide Removal Projects

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Applying to Climate Vault Solutions’ RFP program for Innovative Carbon Dioxide Removal (CDR) Projects offers a unique opportunity for CDR companies to scale their carbon removal solutions while gaining access to vital resources and a robust sales network. To help prospective applicants navigate the process, we’ve compiled key tips for success and answers to some of our most frequently asked questions.

5 Tips for a Successful Application

  1. Understand the RFP Process Familiarize yourself with the application structure outlined in the Application Guide, RFP Information Handbook, and sample application. You can request these assets by visiting our RFP webpage. Three out of the four phases of our program comes with specific requirements, evaluation criteria, and fees. 
  2. Provide Comprehensive and Clear Documentation Ensure your application is complete and clear. Include any supporting documentation necessary to demonstrate your project’s viability, net carbon removal capacity, and robust approach to Monitoring, Reporting, and Verification (MRV), among other criteria. Applications that lack clarity or detail often struggle in our review process.
  3. Focus on Innovation and Scalability Highlight what makes your CDR technology unique and scalable. Showcase your potential to achieve significant carbon removals while maintaining cost-efficiency and environmental integrity. Technical and Economic Feasibility is the criteria where we see applications—across all pathways—most often fall short. 
  4. Leverage the Addenda: Some project types, like Biochar and Enhanced Weathering, have specific addenda that pinpoint common information gaps from past applications. Use these resources to strengthen your submission.
  5. Engage Early with Climate Vault Solutions’ Team: Don’t hesitate to reach out to rfp@climatevault.com for clarification or support during the application process. Our team is available to address questions and provide guidance to help you submit a more optimized and competitive application.

Frequently Asked Questions 

Q: What are the fees associated with the RFP?
The application involves four distinct stages, three of which have associated fees:

  • Phase 0: Free
  • Phase 1: $3,000. This fee covers the initial review of your application, including eligibility screening and preliminary assessment.
  • Phase 2: $10,000. If your application advances, this fee supports a detailed evaluation of your submission materials and the preparation of an action-oriented report indicating how your project aligns with the Climate Vault Tech Chamber’s Standards and how to best optimize your project. Additionally, once you reach Phase 2, we will ask you to commit to pay the Phase 3 fee, conditional upon your application moving forward to Phase 3. 
  • Phase 3: $20,000. This fee covers the third-party audit, which includes a thorough desktop review of your materials, a site visit to your project facilities (virtual or in-person), and the preparation of a draft and final audit report. You will receive a copy of the draft and final audit reports for your records. 

This phased fee approach supports a rigorous evaluation process and actionable insights at each stage of the program, while also ensuring that applicants do not invest in later stages unless they have a real chance of moving forward. If your application does not advance beyond a phase, you may be eligible to reapply in future rounds with waived fees for earlier stages.

Q: What benefits do winners receive?

A: Selected projects gain numerous benefits designed to help support the growth and scaling of each approved technology including, but not limited to:

  • Sales Channel Integration: Your carbon removal credits are sold through Climate Vault Solutions’ exclusive direct sales channels, reaching a network of corporate clients seeking high-quality carbon removals.
  • Investor Introductions: Gain visibility with our extensive network of institutional investors looking to back cutting-edge CDR technologies.
  • Grant Funding Opportunity: Winners are eligible to apply for grant funding from the Climate Vault nonprofit, supporting the scale-up of their projects.
  • Co-Marketing Support: Climate Vault Solutions amplifies your project’s visibility through press releases, webinars, case studies, social media campaigns, and more.
  • Seal of Approval: Backed by the Chair of the Climate Vault Tech Chamber, former U.S. Energy Secretary Ernest Moniz, this endorsement differentiates your project and demonstrates its credibility. 

Q: What does the sales channel integration entail?

A: Winning projects are seamlessly incorporated into Climate Vault Solutions’ sales and marketing ecosystem. This includes:

  • Exclusive Client Access: Your credits are introduced to our network of over 60 corporate clients, including notable companies like TripAdvisor, Northern Trust, FastCompany, and Unity.
  • Enhanced Visibility: Projects are featured in the Climate Solutions Platform, our software tool used by businesses to measure and manage their carbon impact. Clients using our software platform can directly purchase carbon removal credits from our portfolio of high-quality solutions to take action against their carbon footprint.
  • Co-Branded Campaigns: Through tailored marketing efforts, including press releases and webinars, your project is positioned as a differentiated market leader in the CDR space.

Q: How are grants from the Climate Vault nonprofit awarded?

A: Grants are structured as offtake agreements. This means emission allowances held in the Climate Vault nonprofit’s “vault” are allocated on a ton-for-ton basis (i.e., one emission allowance per ton of verified CO2 removal). The total grant amount will vary from applicant to applicant and depends on various factors, including:

  • The total allowances in Climate Vault’s vault (currently over 1.2 million).
  • The number of selected projects that apply for the grant and their removal capacity.
  • The selected projects’ timeline for achieving and verifying removals.
  • The selected projects’ price per ton of removal

This flexible structure ensures that funding aligns with project performance, incentivizing timely and effective carbon removal.

Q: What’s the target price for carbon credits?

A: We accept applications at any price per ton of CO2 removed but have found that credits priced at or below $200/tCO₂ tend to be more attractive to buyers. Nevertheless, higher-priced carbon removal credits will still find a market if they align with specific client interests or offer unique value propositions. This flexibility allows a range of projects to participate in our program while keeping buyer preferences in mind.​

Q: What kind of support does Climate Vault Solutions provide during the application process?
A: We are committed to helping applicants succeed in our program. Here’s how we support you throughout the process:

  • Dedicated Support Team: Applicants have access to our team of experts who can clarify requirements, provide guidance, and answer questions at every stage of the application.
  • Feedback at Each Phase: Whether or not you advance all the way through the program, we will provide detailed, actionable feedback at every phase to help you improve your application and project design.
  • Flexible Reapplication Options: If your project isn’t selected in a given round, Climate Vault Solutions may choose to offer waived fees for Phase 1 and Phase 2. If you choose to reapply, this will help you build on previous submissions without incurring additional costs​.

Q: How does Climate Vault Solutions ensure the credibility of selected projects?
A: We maintain rigorous standards to ensure that every project in our portfolio meets the highest levels of credibility and impact. This is achieved through:

  • Independent Third-Party Audits: Phase 3 includes a comprehensive review of your project by an independent auditor. This process involves a desktop review of your application materials, a site visit to the project facilities (in-person or virtual), and detailed audit reports, which provide transparent validation of your project’s claims.
  • Tech Chamber Standards: Projects are evaluated against the six standards established by the Climate Vault nonprofit’s Tech Chamber, which includes leading experts in climate science and technology.
  • Continuous Monitoring: After selection, projects are subject to ongoing monitoring to ensure that carbon removals are achieved and verified as planned. This builds trust with buyers and stakeholders, ensuring long-term success​ for our program.

Climate Vault Solutions’ CDR RFP program is a transformative program for advancing credible, scalable carbon removal solutions. By preparing a thorough and strategic application, you can position your CDR technology for maximum impact, visibility, and success within our program.

Ready to apply? Visit our RFP webpage to get started today!