The Department of Energy (DOE) has issued a Funding Opportunity Announcement (FOA) for projects that will monitor and evaluate the potential risks of storing carbon dioxide in geologic formations. The objectives of the FOA are (1) monitoring, verification, and accounting (MVA) of CO2 sequestration in geologic formations; (2) simulating the behavior of geologically-sequestered CO2; and (3) conducting risk assessments associated with geologic CO2 sequestration activity.
The DOE expects multiple projects to be awarded funding under this FOA. Depending on FY 2009 appropriations, DOE may be able to distribute up to $24 million to selected projects. The award recipient, though, must provide at least 20 percent of the funding for each project.