XPRIZE Carbon Removal is aimed at tackling the biggest threat facing humanity – fighting climate change and rebalancing Earth’s carbon cycle. Funded by Elon Musk and the Musk Foundation, this $100M competition is the largest incentive prize in history, an extraordinary milestone.
Closing date varies.
- Any carbon negative solution is eligible: nature-based, direct air capture, oceans, mineralization, or anything else that achieves net negative emissions, sequesters CO2 durably, and show a sustainable path to achieving low cost at gigatonne scale.
- XPRIZE believes that solution can come from anyone, anywhere; scientists, engineers. 167 academics, entrepreneurs and other innovators from all over the world are invited to form a 168 team and register to compete.
The $100M prize purse will be distributed as follows:
- After 1 year of competition the judges will review all submissions received by that time and award up to 15 Milestone Prizes of $1 million each. At the discretion of the judges, these awards may be granted on a conditional basis, subject to the team’s demonstrated commitment to continuing to develop and advance their solutions and to compete for the Grand Prize.
- After 4 years, judges will select the winners:
- Bullet point
- $50 million paid to the single Grand Prize Winner
- $30 million to be distributed among up to 3 runners up
- XPRIZE will also award up to US$5M to student teams in the Fall of 2021. These awards may fund participation in the XPRIZE Carbon Removal or the development of key supportive technologies.
View official Website Here for Application and further information.
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