XPRIZE has selected Creative Destruction Lab (CDL) as its strategic partner for the Carbon Removal prize, the ambitious $100 million initiative funded by the Musk Foundation designed to combat climate change by rebalancing Earth’s carbon cycle.
XPRIZE Carbon Removal has catalyzed an entirely new carbon dioxide removal (CDR) industry, with over 1,300 teams worldwide having joined the race, half of which were founded in response to the competition.
The four-year global competition calls upon teams to develop and demonstrate solutions that can pull carbon dioxide directly from the atmosphere or oceans, and sequester it durably and sustainably.
Teams must exhibit a working solution that achieves the competition’s goal of removing 1,000 net tonnes of CO2 in the final year of the competition, and a viable pathway to reaching megatonne scale in the coming years and eventually gigatonne scale before 2050, with an understanding of their environmental and social impacts.
“XPRIZE is thrilled to announce our partnership with CDL, uniting our expertise and resources to propel the next generation of carbon removal innovators. By leveraging the unique strengths of both organizations, we are committed to creating an environment where visionary ideas can flourish,” shared Anousheh Ansari, CEO XPRIZE.
“With this partnership, we will amplify our efforts to build and scale transformative companies, ensuring that these pioneering solutions can meet the immense challenges of the climate crisis. We are excited to see the groundbreaking progress that will emerge from this enhanced collaboration.”
This partnership extends beyond the competition itself. Teams working on XPRIZE Carbon Removal initiative will be integrated into CDL streams globally as XPRIZE-CDL Carbon Removal ventures.