The submission page for the NextGen RFP will go live on this page on May 31st.
Introduction
NextGen CDR is an advanced market commitment, established for the express purpose of buying and managing a portfolio of long-term, durable CDRs on behalf of a collective of corporate buyers including Boston Consulting Group, LGT Group, Mitsui O.S.K. Lines, Swiss Re, and UBS. To date, NextGen CDR has announced purchases of close to 200,000 tonnes of certified CDRs.
The NextGen CDR portfolio is designed to:
1) Make CDRs accessible for buyers by derisking purchases through a portfolio approach at an average target price of US $200/t
2) Promote quality assurance through rigorous diligence and certification of projects under an ICROA endorsed standard to ensure baseline standards and create fungibility for buyers
3) Realize delivery from scalable carbon removal projects through close collaboration and active management with project developers to ensure impact
NextGen CDR has historically focused on late stage/more mature technologies to provide confidence on delivery. The rapid evolution of the CDR market and emergence of new advancements has encouraged us to expand and diversify the portfolio through this procurement round.
NextGen CDR team will purchase from additional CDR projects based on submissions for this 2024 RFP, which will remain open from 31 May until 14 June.
RFP Process Document
Click the button below to download.
FAQs
Application
In your initial application we are looking for a n overview of key attributes related to your project, with sufficient details that will allow us to understand the technology, process, present status, location, expected timelines, scale and high-level commercial details to determine how it compares with other projects.
You are encouraged to supply as many details as possible to increase your chances of being selected to move forward in the RFP process. The form will also provide you with an opportunity to upload additional supporting documentation to fully illustrate your project/technology.
The RFP submission form is an online form consisting of a variety of multiple-choice questions and brief descriptive questions. Depending on the technology classification of your project, a series of technology specific questions will also need to be answered.
We have designed the questionnaire to take no more than 30 minutes; further detailed information will be requested as your project progresses through the RFP process.
Commercial
Unless NextGen CDR is already in a late stage of negotiation with your project/company and have advised that you don’t need to participate in this RFP, we would encourage you to reapply through the RFP.
Price negotiation with NextGen CDR will only take place at the later stages of the RFP process and companies/projects are not required to disclose the expected sale cost of their CDRs. However, your chance of being selected to advance in the process will be significantly increased if you can provide an indicative price range, and projects/companies are strongly encouraged to provide a price range.
To date, NextGen CDR has been committing to multi-year contracts on a forward basis, paying companies on delivery of certified CDRs. While this approach will constitute the majority of our future purchases, we are exploring more flexible options.
Eligibility
While we will prioritize projects that meet the criteria and requirements listed in this document, we are in the process of adding additional buyers and are looking to provide a more diverse offering so we encourage you to apply in order to be under future consideration.
We purchase CDRs from actual carbon removal projects, which deploy innovative carbon removal technologies. If you are at a stage where the project details are still being finalised or not at a stage where it can be disclosed, you are encouraged to apply providing the project specific details that are presently available as on the date of submission and can be shared with us. NextGen CDR’s general approach is that of comparing CDR projects in a given category against other CDR projects in the same category on various parameters and this requires project specific information.
Scope
The number of projects will be dependent on the volume, delivery dates and price of projects that we contract. As we add new buyers to NextGen CDR, our appetite for projects during the course of the RFP will likely expand significantly.
Other
Please contact the NextGen CDR team with your questions or clarification requests at rfp@nextgencdr.com.
The RFP application provides a section where you can characterize the unique features and characteristics of your project and/or technology. The form also provides you with an opportunity to upload additional supporting documentation to further elaborate any important aspects.
After carefully reviewing all applications, we will notify each project if we will proceed further, and request further detailed project information by the end of June 2024.
