Transaction

SMART-DAC - BEIS DAC and GGR Innovation Programme, Phase 2

Terms

Announced: 10 Jul 2022
Instrument: Grants
Amount: US$3.53mReported as GBP 2,941,301.44, converted at 1.201 USD/GBP (July 2022 average)
Source: gov.uk

Project developer: CO2CirculAir B.V.
Recipient type: Grant recipient
Country: Netherlands
Capital providers: Capital providers and the amount counted for each
Party Role Amount Basis
UK Department for Business, Energy and Industrial Strategy Investor US$3.53m Sole provider: the whole transaction

Capital providers and the amount counted for each
Party	Role	Amount	Basis
UK Department for Business, Energy and Industrial Strategy	Investor	US$3.53m	Sole provider: the whole transaction

: An SBRI pre-commercial procurement contract paid against milestones rather than a grant in legal form. CO2CirculAir B.V. is the consortium lead; the partners, named only in a partner release, are Net Zero Technology Centre, Process Design Centre, Heriot Watt University, Optimus Plus and B9 Energy Storage, and none of them is a provider of capital.

: A Dutch company led a UK government funded direct air capture consortium, which shows the competition did not require a UK domiciled lead. The award is milestone-based procurement rather than capital, and the department names only the lead.

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