XPRIZE Carbon Removal, the competition begins

XPRIZE Carbon Removal, the competition begins
After the announcement at the end of January, the XPRIZE Carbon Removal contest has officially started. Elon Musk is offering $ 100 million to the winners of the competition that involves the development of a carbon dioxide capture technology. Registrations will be possible from April 22, 2021 (Earth Day), when participants will have access to the race guidelines.

XPRIZE Carbon Removal: contest to save the Earth

Scientists estimate that 6 billion tons of CO2 must be removed by 2030 and 10 billion by 2050 to avoid catastrophic effects on the climate. To meet the objectives of the Paris agreements it is not enough to reduce CO2 emissions, but it is necessary to capture the CO2 already present in the air and in the oceans.

The $ 100M XPRIZE Carbon Removal is now LIVE. Funded by @elonmusk, it’s the largest in history. Fight climate change. Let's exit the fossil fuel era. 🌎 ♻️

Sign up now: https://t.co/TwLkS3FR31 @PeterDiamandis @AnoushehAnsari #environment pic.twitter.com/hRrRIqaM7z

- XPRIZE (@xprize) February 8, 2021

The aim of the competition, which will last four years until April 22, 2025, is to develop an ecological solution for the permanent capture of carbon dioxide. Judges will evaluate proposals based on several criteria, including amount of CO2 removed, life cycle analysis of the removal process, energy efficiency, soil footprint and sequestration capacity.

The contest provides for the award of $ 1 million to the best 15 teams after 18 months. In addition, 25 scholarships worth $ 200,000 will be established. The remaining $ 80 million will be split between the top three finishers: $ 50, $ 20 and $ 10 million, respectively. As mentioned, the complete guidelines will be available starting April 22, 2021.

Source: XPRIZE