The world’s leading scientists estimate that we may need to remove as much as 6 gigatons of CO2 per year by 2030, and 10 gigatons per year by 2050 to avoid the worst effects of climate change. For humanity to reach the Paris Agreements goal of limiting the Earth’s temperature rise to no more than 1.5˚(C) of pre-industrial levels, or even 2˚(C), we need bold, radical tech innovation and scale up that goes beyond limiting CO2 emissions, but actually removes CO2 already in the air and oceans. If humanity continues on a business-as-usual path, the global average temperature could increase 6˚(C) by the year 2100.
This four-year global competition invites innovators and teams from anywhere on the planet to create and demonstrate solutions that can pull carbon dioxide directly from the atmosphere or oceans ultimately scaling massively to gigaton levels, locking away CO2 permanently in an environmentally benign way.
Solutions will be scientifically evaluated across multiple criteria such as; amount of CO2 removed, life cycle analysis of the removal process, energy efficiency, land footprint and sequestration capabilities.
Any carbon negative solution is eligible: nature-based, direct air capture, oceans, mineralization, or anything else that sequesters CO2 permanently.
Awards:- 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.
The $100M in prize purses will be distributed in the following manner:
After 18 months, at the discretion of the competition judges, the 15 top teams selected will receive $1 million each. Milestone Awards will kickstart team fundraising for their operating budgets to achieve the full-scale demonstrations required to win the prize.
In the same timeframe, a total of twenty-five $200,000 student scholarships will be distributed to student teams competing.
The remaining $80M in Purses will be distributed as follows:
Grand Prize Winner (1st Place): $50M
2nd Place: $20M
3rd Place: $10M