Current efforts to reduce global CO2 emissions are not enough to prevent catastrophic climate change. A growing consensus concludes that directly removing carbon dioxide from our atmosphere, oceans, and ecosystems is necessary.

To address this global grand challenge, XPRIZE is excited to officially kick-off the design process for our new Carbon Removal Prize Design. This prize will aim to accelerate breakthroughs to catalyze action to fight climate change.

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Feedback and Suggestions

NickAzerNickAzer Portland, OR, USAPosts: 83 admin
edited July 16 in General
If you have feedback or suggestions for us about the Community, please post it here!

Comments

  • CamCarbonCaptureCamCarbonCapture Posts: 4
    Please make any future competitions entrance fee free. These technologies are at an early stage and the $5k (the fee for the last XPrize competition) is needed for R&D and is not well spent on entering competitions.
  • NickAzerNickAzer Portland, OR, USAPosts: 83 admin
    @CamCarbonCapture Thank you for the input - that's definitely something that could be looked into as we explore possibilities for the prize design!
  • CamCarbonCaptureCamCarbonCapture Posts: 4
    As you may know, we didn't join the previous CCUS XPrize due to the entry fee. Despite the financial issues we faced then we have managed to progress the technology well and now have a major UK Utility as a customer. We will be trialing our technology on one of their sites in Q3-4 this year.

    I am spending a great deal of my time developing relationships with potential supply chain partners. We are attempting to develop an entirely new supply chain - a circular economy from scratch. This is necessary to make our technology work at scale. As you can imagine, this is exceedingly challenging so I am wondering if there is anything you can do with the design of the prize to help facilitate the building of supporting supply chains.

    There is no lack of money to develop our technology, the issue is risk. If this risk could be shared across supply chains and the Prize used as a conduit to build trust and share risk this would be very helpful. They would benefit from the PR your prize would bring and this could be the driver for them to put some skin in the game.

    An example is: We believe we can use existing Flue Gas Desulphurization Units (FGDs) at coal fired power stations to capture CO2, NOx and SOx using our technology with minimal conversion. We are talking to the owners of a power station scheduled for closure in 18 months about running a trial prior to its closure. This would save millions in R&D and 2-3 years. Their Board is interested in the idea but are concerned about the risks and costs of the project. We are looking for partners to share the risk. So far we have a large chemical company interested as we can use one of their waste streams to capture the CO2 and we are in discussions with an oil and gas major and the OGCI. XPrize could help bring in these partners and act as a focal point for PR etc.
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