prize competition
(1) Definitions In this subsection: (A) Dilute media The term “dilute media” means media in which the concentration of carbon dioxide is less than 1 percent by volume. (B) Prize competition The term “prize competition” means the competitive technology prize competition established under paragraph (2). (C) Qualified carbon dioxide (i) In general The term “qualified carbon dioxide” means any carbon dioxide that— (I) is captured directly from the ambient air; and (II) is measured at the source of capture and verified at the point of disposal, injection, or utilization. (ii) Inclusion The term “qualified carbon dioxide” includes the initial deposit of captured carbon dioxide used as a tertiary injectant. (iii) Exclusion The term “qualified carbon dioxide” does not include carbon dioxide that is recaptured, recycled, and reinjected as part of the enhanced oil and natural gas recovery process. (D) Qualified direct air capture facility (i) In general The term “qualified direct air capture facility” means any facility that— (I) uses carbon capture equipment to capture carbon dioxide directly from the ambient air; and (II) captures more than 50,000 metric tons of qualified carbon dioxide annually. (ii) Exclusion The term “qualified direct air capture facility” does not include any facility that captures carbon dioxide— (I) that is deliberately released from naturally occurring subsurface springs; or (II) using natural photosynthesis.