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XPRIZE Carbon Removal: largest incentive prize in history

XPRIZE Carbon Removal: largest incentive prize in history Downloaded from https://academic.oup.com/ce/article/5/3/474/6367818 by DeepDyve user on 14 September 2021 Clean Energy, 2021, 474–475 https://doi.org/10.1093/ce/zkab026 Homepage: https://academic.oup.com/ce News and Focus XPRIZE Carbon Removal: largest incentive prize in history Marcius Extavour* XPRIZE, Energy & Environment, 800 Corporate Pointe, Suite 350, Culver City, CA 90230, USA *Corresponding author. E-mail: Marcius.Extavour@xprize.org XPRIZE Carbon Removal is a 4-year global competition that 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, and sequester it. In response to the biggest threat facing humanity—fighting climate change and rebalancing Earth’s carbon cycle—XPRIZE Carbon Removal is a 4-year global competition that 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, and sequester it durably and sustainably. The climate mathematics are making it clear that we will need gigaton-scale carbon removal in the coming dec- ades to avoid the worst effects of climate change. The International Panel on Climate Change estimates the need at ~10 o o gigatonnes of net CO removal per year by the year 2050 in order to keep the global temperature rise under 1.5 C or 2 C. As governments, companies, investors and entrepreneurs make plans to meet this challenge, it is clear that we will need a range of carbon-removal solutions to be proven through demonstration and deployment to complement work that is already underway. If humanity continues on a business-as-usual path, the global average temperature could increase by 6 C by the year 2100. With $100 million in prizes, with support from the Musk Foundation, it is the largest incentive prize in history. Grand Prizes of $50 million for the first-place team and $30 million for the runner-up pool will be awarded. To win the Grand Prize, teams must demonstrate a working solution at a scale of at least 1000 tonnes removed per year; model their costs at a scale of 1 million tonnes per year; and show a pathway to achieving a scale of gigatonnes per year in the future. Received: 20 July 2021; Accepted: 21 July 2021 © The Author(s) 2021. Published by Oxford University Press on behalf of National Institute of Clean-and-Low-Carbon Energy This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial License (https:// creativecommons.org/licenses/by-nc/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited. For commercial re-use, please contact journals.permissions@oup.com Downloaded from https://academic.oup.com/ce/article/5/3/474/6367818 by DeepDyve user on 14 September 2021 Extavour | 475 In addition to the Grand Prize, there will be up to 15 Milestone Awards of $1 million each for the best submissions re- ceived by judges by 1 February 2022 and $5 million Student Awards for proposals by student-led teams, to fund participa- tion in the main competition or the development of key supportive technologies. Any carbon-negative solution is eligible: nature-based, direct air capture, oceans, mineralization or anything else that achieves net negative emissions, sequesters CO durably and shows a sustainable path to achieving low cost at the gigatonne scale. XPRIZE teams come from all around the world. Teams can be composed of university groups, high-school students, start-ups and innovators, small to midsized companies, community-based organizations, families or individuals. Team registration opens with the announcement of the full competition guidelines on Earth Day, 22 April 2021. The competition will last for 4 years through to Earth Day 2025. Key dates are: • Student Award submission deadline—1 October 2021 • Student Awards announced—November 2021 • Milestone registration deadline—1 December 2021 • Milestone submission deadline—1 February 2021 • Grand Prize registration deadline—1 December 2023 • Final team submission deadline—1 February 2025 • Grand Prize winners announced—April 2025 Further details on registering for the XPRIZE Carbon Removal competition can be found here: https://www.xprize.org/ prizes/elonmusk. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Clean Energy Oxford University Press

XPRIZE Carbon Removal: largest incentive prize in history

Clean Energy , Volume 5 (3) – Sep 1, 2021

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Publisher
Oxford University Press
Copyright
Copyright © 2021 National Institute of Clean-and-Low-Carbon Energy
ISSN
2515-4230
eISSN
2515-396X
DOI
10.1093/ce/zkab026
Publisher site
See Article on Publisher Site

Abstract

Downloaded from https://academic.oup.com/ce/article/5/3/474/6367818 by DeepDyve user on 14 September 2021 Clean Energy, 2021, 474–475 https://doi.org/10.1093/ce/zkab026 Homepage: https://academic.oup.com/ce News and Focus XPRIZE Carbon Removal: largest incentive prize in history Marcius Extavour* XPRIZE, Energy & Environment, 800 Corporate Pointe, Suite 350, Culver City, CA 90230, USA *Corresponding author. E-mail: Marcius.Extavour@xprize.org XPRIZE Carbon Removal is a 4-year global competition that 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, and sequester it. In response to the biggest threat facing humanity—fighting climate change and rebalancing Earth’s carbon cycle—XPRIZE Carbon Removal is a 4-year global competition that 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, and sequester it durably and sustainably. The climate mathematics are making it clear that we will need gigaton-scale carbon removal in the coming dec- ades to avoid the worst effects of climate change. The International Panel on Climate Change estimates the need at ~10 o o gigatonnes of net CO removal per year by the year 2050 in order to keep the global temperature rise under 1.5 C or 2 C. As governments, companies, investors and entrepreneurs make plans to meet this challenge, it is clear that we will need a range of carbon-removal solutions to be proven through demonstration and deployment to complement work that is already underway. If humanity continues on a business-as-usual path, the global average temperature could increase by 6 C by the year 2100. With $100 million in prizes, with support from the Musk Foundation, it is the largest incentive prize in history. Grand Prizes of $50 million for the first-place team and $30 million for the runner-up pool will be awarded. To win the Grand Prize, teams must demonstrate a working solution at a scale of at least 1000 tonnes removed per year; model their costs at a scale of 1 million tonnes per year; and show a pathway to achieving a scale of gigatonnes per year in the future. Received: 20 July 2021; Accepted: 21 July 2021 © The Author(s) 2021. Published by Oxford University Press on behalf of National Institute of Clean-and-Low-Carbon Energy This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial License (https:// creativecommons.org/licenses/by-nc/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited. For commercial re-use, please contact journals.permissions@oup.com Downloaded from https://academic.oup.com/ce/article/5/3/474/6367818 by DeepDyve user on 14 September 2021 Extavour | 475 In addition to the Grand Prize, there will be up to 15 Milestone Awards of $1 million each for the best submissions re- ceived by judges by 1 February 2022 and $5 million Student Awards for proposals by student-led teams, to fund participa- tion in the main competition or the development of key supportive technologies. Any carbon-negative solution is eligible: nature-based, direct air capture, oceans, mineralization or anything else that achieves net negative emissions, sequesters CO durably and shows a sustainable path to achieving low cost at the gigatonne scale. XPRIZE teams come from all around the world. Teams can be composed of university groups, high-school students, start-ups and innovators, small to midsized companies, community-based organizations, families or individuals. Team registration opens with the announcement of the full competition guidelines on Earth Day, 22 April 2021. The competition will last for 4 years through to Earth Day 2025. Key dates are: • Student Award submission deadline—1 October 2021 • Student Awards announced—November 2021 • Milestone registration deadline—1 December 2021 • Milestone submission deadline—1 February 2021 • Grand Prize registration deadline—1 December 2023 • Final team submission deadline—1 February 2025 • Grand Prize winners announced—April 2025 Further details on registering for the XPRIZE Carbon Removal competition can be found here: https://www.xprize.org/ prizes/elonmusk.

Journal

Clean EnergyOxford University Press

Published: Sep 1, 2021

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