XPRIZE Chairman and CEO Peter Diamandis competition the $20-million NRG COSIA Carbon XPRIZE, a competition to address CO2 emissions from fossil fuels. Teams are challenged to develop breakthrough technologies that convert the most CO2 into one or more products with the highest net value. Co-sponsored by NRG and COSIA (Canada’s Oil Sands Innovation Alliance), the 4-½ year competition will include two tracks, with the new technologies tested at either a coal power plant or a natural gas facility.
The Carbon XPRIZE is intended to provide incentive for the development of technologies that convert CO2 into a product or suite of products such as: alternative cement, concrete, and other building materials; chemicals used to manufacture a variety of industrial and consumer goods; low-carbon transportation fuels; and possibly new products altogether.
According to the International Energy Agency, 82% of the world’s energy supply is derived from fossil fuels. While cleaner energy sources are on the rise, overall energy demand is expected to grow 37% by 2040.
Carbon is a unique challenge in that as we move toward a low to zero-emission future, we’ll need to continue using fossil fuels to meet current energy demands. We’re using the highly effective XPRIZE process to engage the world’s brightest minds to find a solution that helps solve emissions problems, and simultaneously creates viable products that we use every day.—Sicily Dickenson, chief marketing officer, NRG
XPRIZE will appoint a judging panel to evaluate the various technologies and approaches developed by teams during the competition. XPRIZE will also appoint a third-party Scientific Advisory Board of experts available to advise on a variety of approaches to CO2 conversion.
The Carbon XPRIZE is a part of XPRIZE’s growing portfolio of Energy & Environment prizes and long-term vision for accelerating revolutionary energy technologies to help move the world towards a clean, abundant energy future.
Founded in 1995, XPRIZE creates and manages incentivized prizes in five areas: Learning; Exploration; Energy & Environment; Global Development; and Life Sciences. Active prizes include the $30M Google Lunar XPRIZE; the $15M Global Learning XPRIZE; the $10M Qualcomm Tricorder XPRIZE; and the $7M Adult Literacy XPRIZE.