Global challenges will require global solutions to resolve them and that’s evident in the teams that have earned the right to compete in the Carbon XPRIZE.
There are 47 teams from seven countries across three continents seeking a share of $20 million that will be awarded as teams work toward the goal of transforming carbon dioxide from a problem to valuable product.
The competition model to spur innovation has a track record of success and the Carbon XPRIZE is funded by Canada’s Oil Sands Innovation Alliance, a Calgary-based alliance of leading oil sands producers, as well as U.S. based company NRG Energy.
The Carbon XPRIZE was launched in September 2015 with a call to innovators and inventors worldwide to develop breakthrough solutions to contribute to the battle against climate change. Over the next four and a half years, the 47 finalists will work to develop technologies to transform the greenhouse gas into useful products.
The XPRIZE Foundation was founded in 1995 and manages a number of incentive competitions “to solve humanity’s grand challenges.” The panel of expert judges for the Carbon XPRIZE are seeking innovative solutions in five “grand challenges” – exploration, global development, energy and environment, learning, and life sciences.
“The Carbon XPRIZE is harnessing global innovators to reimagine carbon,” said Dan Wicklum, the chief executive officer for COSIA “As a scientist, I know from experience that when you focus on a challenge and incentivize smart people to think about how to address that challenge from different angles and different perspectives, good things happen.”
Each team will invest its time and money in pursuit of developing the highest value product while minimizing the environmental footprint to claim the prize money.
Oil sands companies are committed to being part of the solution around GHG emissions and since its inception in 2012, COSIA’s 13 members have shared 814 technologies to accelerate improvements in environmental performance.
The XPRIZE will accelerate the development of zero-carbon energy technologies and teams are working to turn carbon dioxide into everything from fertilizer to fuel.
Teams are from Canada, China, India, Finland, Switzerland, Scotland and the United States. The 12 Canadian entrants include, Carbon Upcycling Technologies of Calgary. It is developing technology to capture carbon dioxide and combine it with graphite to create nanoparticles used in everything from making cement string to water-purification.