Carbon Removal Newsroom
The Carbon Removal XPRIZE Announces Their 20 Finalists
May 21, 2024
The XPRIZE announces 20 finalists for a $50 million CDR startup prize. Over 1000 teams applied worldwide. Detailed report on top 100 teams released. Podcast discusses selection process, methodologies, and industry analysis. Future plans for the competition and how finalists were chosen.
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Quick takeaways
- X-Prize competition offers $50 million to the winning CDR startup with $10 million to three runner-up teams, promoting innovation and scalability in carbon removal technologies.
- X-Prize finalists focus on diverse pathways like direct air capture, land-based removal, ocean-based removal, and rock-based removal, emphasizing social sustainability and community engagement in carbon removal projects.
Deep dives
X-Prize Competition for Largest Funding Source in CDR Startups
The X-Prize competition, funded by Elon Musk, offers $50 million to the winning CDR startup in 2025, with $10 million awarded to three runner-up teams. The competition received applications from over a thousand teams globally. X-Prize recently released the Getting to Gigaton report, analyzing data from the top 100 teams and announced the top 20 finalists.
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