Venture Capital/ESG: XPRIZE And Musk Foundation Hand Out $15M To Carbon Removal Teams

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15 teams from nine countries each win $1M Milestone awards in the next stage of the $100M XPRIZE Carbon Removal competition to innovate and scale solutions to fight climate change.

In celebration of Earth Day, XPRIZE and Musk Foundation awarded $1 million each as a milestone prize to 15 teams in the $100M XPRIZE Carbon Removal competition in recognition of their efforts to date and support their continued work to scale solutions. (XPRIZE)

The $100M competition, funded by Elon Musk and the Musk Foundation, is the largest incentive prize in history and the Carbon Removal teams represent the largest collection of innovators working on carbon removal.

The competition aims to encourage carbon removal innovators to work on tackling the biggest threat facing humanity: fighting climate change and rebalancing Earth’s carbon cycle.

The 15 milestone winners, listed by primary solution type, include:

Air

Calcite from 8 Rivers Capital – U.S.

Carbyon – Netherlands

Heirloom & Carbfix – U.S. & Iceland

Project Hajar – U.K.& Oman

Sustaera – U.S.

Verdox & Carbfix – U.S. & Iceland

Land

Bioeconomy Institute Carbon Removal Team from Iowa State – U.S.

Global Algae Innovations – U.S.

NetZero – France

PlantVillage from Penn State – U.S.

Takachar & Safi Organics from University of British Columbia – Kenya

Ocean

Captura from California Institute of Technology – U.S.

Marine Permaculture SeaForestation from the Climate Foundation – U.S., the Philippines & Australia

Planetary – Canada

Rocks

Carbin Minerals from the University of British Columbia, Vancouver – Canada

XPRIZE – We need to do more

 “The pace and depth of initiatives in carbon removal and other crucial climate solutions have never been greater, but we still need more—more and deeper emissions cuts, and more reliable, validated carbon removal solutions,” stated Dr. Marcius Extavour, chief scientist and vice president of climate and environment at the competition. “That’s why we launched this prize in the first place.”

Related Story: Carbon Removal Pioneer Climeworks Raises $650M

Image Credit: XPRIZE

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