The largest incentive prize in human history is being announced today, Monday February 8th 2021, as an XPRIZE to attract and inspire innovators to develop and scale efficient carbon removal solutions to combat climate change.
XPRIZE Carbon Removal is a $100M four-year global competition that invites innovators and teams from anywhere on the planet to create and demonstrate a solution that can pull carbon dioxide directly from the atmosphere or oceans and lock it away permanently in an environmentally benign way. This competition is the most audacious step ever in fighting climate change. To win the competition, teams must demonstrate a rigorous, validated scale model of their solution at a level of carbon removal of 1 ton of CO2 per day, with a goal to inspire and help scale efficient solutions to collectively achieve the 10 gigaton per year carbon removal target by 2050, to help fight climate change and restore the Earth’s carbon balance. The full competition guidelines will be announced on April 22nd, 2021, which is also Earth Day. On that same day team registration will begin.
XPRIZE, a 501(c)(3) nonprofit organization, is the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges. Active competitions include the $20 Million NRG COSIA Carbon XPRIZE, $10 Million XPRIZE Rainforest, $10 Million ANA Avatar XPRIZE, $6 Million XPRIZE Rapid COVID Testing, the $5 Million IBM Watson AI XPRIZE, $5 Million XPRIZE Rapid Reskilling, and $500K Pandemic Response Challenge.