The $ 100 million-sponsored XPRIZE decarbonisation competition has identified 15 winners of the Achievement Round.
Each of the winning teams will receive $ 1 million, which will help the teams expand their work, according to the Raven Tribune.
The XPRIZE Carbon Removal Competition was launched to stimulate the development of innovative technologies that can help reduce the carbon dioxide content of the atmosphere.
The global decarbonisation competition was launched in 2021 and is expected to last four years. The winner of the main prize will be announced in April 2025.
Recent winners do not necessarily have an advantage to receive the final prize. And new entrants can join the competition until December 2023.
The winners of the $ 1 million round of achievements have proposed a number of innovations that can help remove carbon from the air. For example, Planetary Technologies in Dartmouth, Nova Scotia, has proposed using antacids from mining residues to help the ocean absorb greenhouse gases better.
Mike Kieland, CEO of Planetary Technologies, said the $ 1 million is a stimulating investment in the technology.
Calcite from North Carolina aims to capture atmospheric carbon dioxide in calcium carbonate crystals. A process similar to how gas dissolves in the ocean, which contributes to the formation of nacre and limestone. California-based Global Algae is also working to grow algae to help restore tropical forests.
The XPRIZE winning team or teams must achieve a number of goals to receive the final prize in the competition:
- must prove that their innovation is capable of extracting 1,000 metric tons of carbon dioxide per year from the atmosphere;
- indicate the cost of removing up to one million metric tons of carbon per year;
- should show the way to remove billions of tons of carbon dioxide annually.
It will be recalled that Elon Musk, co-owner of Tesla with a fortune of $ 288 billion, topped the ranking of "green" billionaires.
As EcoPolitica previously reported, Australia will spend $50 million on carbon capture and storage centers.