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.
APPLICATION DEADLINE:
Closing date varies.
ELIGIBILITY:
- 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.
BENEFITS:
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.
APPLICATION:
View official Website Here for Application and further information.
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