Elon Musk $100 Million XPRIZE Competition Welcomes Three Finalists from Canada

Elon Musk $100 million XPRIZE Carbon Removal competition announced its finalists, which aim to address climate change’s urgent problem. Among the 20 global competitors, three creative Canadian cleantech businesses have emerged as frontrunners. These teams from Vancouver, Sherbrooke, and Dartmouth represent a wide spectrum of carbon removal methods and are ready to impact the fight against global warming significantly.

The Urgent Need for Carbon Removal

Climate change is a massive hazard to humanity. To counteract this, the XPRIZE Carbon Removal is a historic competition. This $100 million contest, funded by Elon Musk Foundation, offers the greatest incentive reward in history. It attempts to rebalance the Earth’s carbon cycle by creating scalable carbon removal methods.

The climate math is plain. To mitigate the worst effects of climate change, we must remove gigatonnes of CO2. By 2050, the International Panel on Climate Change (IPCC) predicts that around 10 gigatonnes of net CO2 must be removed yearly. Without intervention, global temperatures could rise by 6 degrees Celsius by 2100.

We want teams to build real systems that can make a measureable impact at a gigaton level. Whatever it takes. Time is of essence

ELON MUSK

The Four-Year Global Competition

The Elon Musk XPRIZE Carbon Removal competition encourages competitors worldwide, encouraging a wide range of ideas and solutions critical to addressing the complicated challenge of climate change. By inviting a diverse group of participants, the competition ensures that multiple perspectives and novel ideas are examined, which is crucial for creating effective carbon removal technology.

·        University Groups

Academic institutions are hotbeds for research and innovation. University teams can use their resources, experience, and collaborative environments to create innovative carbon-removal technology. These teams frequently mix seasoned instructors’ expertise with students’ fresh perspectives.

·        High School Students

Young minds provide distinct creativeness and passion. High school teams can give new ideas and techniques. This competition offers an educational opportunity that will inspire the future generation of scientists and environmentalists.

·        Startups and Innovators

Startups and individual inventors play an important role in this competition. They frequently bring agility and unconventional thinking to the table. Their capacity to rapidly develop and adapt makes them ideal candidates for creating novel carbon removal methods.

·        Small to Midsize Companies

These companies can use their existing technologies and business structures to increase carbon removal efforts. They have the advantage of being established entities with resources and experience while retaining the ability to innovate.

·        Community Organizations

Local and community-based groups know their respective regions’ unique environmental challenges. Their grassroots expertise can result in practical and effective carbon removal methods customized to local conditions.

·        Families or Individuals

Individuals and families can contribute significantly to the competition. Citizen scientists and dedicated amateurs frequently have the devotion and inventiveness to create meaningful answers. Everyone can contribute meaningfully to combat climate change, regardless of background or means.

Competition Phases and Prizes

The Elon Musk XPRIZE Carbon Removal competition was divided into phases, and each was meant to challenge and evaluate the competing teams gradually. This organized method ensured that only the most viable and feasible options are pursued, eventually identifying the best technologies for large-scale carbon removal.

Phase 1: Milestone Prizes

The first phase of the competition was centered on early-stage development and proof of concept. During this round, teams were expected to demonstrate the significant components of their carbon removal methods. After one year of competition, judges assessed all submissions received to that point. Based on these evaluations, the judges will award up to 15 Milestone Prizes of $1 million each. These awards highlight substantial development and innovation, motivating teams to improve their ideas. However, some grants may be conditional, depending on the team’s demonstrated commitment to furthering their technologies and contending for the Grand Prize.

Phase 2: Grand Prize and Runner-Up Prizes

The second phase covers the remainder of the four-year tournament. During this time, teams must expand their ideas and demonstrate their usefulness on a bigger scale. Specifically, teams must:

• Demonstrate a practical solution to eliminate at least 1000 tons of CO2 annually.
• Model their costs to scale up to 1 million tonnes per year.
• Present a clear and sustainable approach to achieve gigatonne-scale CO2 reduction in the future.

At the end of four years, the judges will choose the winners based on their ability to achieve these requirements and the overall impact of their ideas. The reward distribution for this phase is considerable.

• The single Grand Prize Winner will get $50 million for the most effective and scalable carbon removal method.
• $30 million will be granted to up to three runners-up, recognizing their tremendous achievements and potential for future scaling.

Additional Prizes for Student Teams

Recognizing the importance of engaging younger generations in climate solutions, the XPRIZE by Elon Musk also awarded student teams up to $5 million. These prizes, given in the fall of 2021, were designed to fund participation in the competition or develop crucial supporting technologies. This effort promotes student involvement and innovation, developing the next generation of climate leaders and scientists.

Its not too late to use human creativity, innovation, and competition to rewrite our history and create a better future for all of us on this planet we call home.

ANOUSHEH ANSARI – CEO of XPRIZE

Three Finalists Canadian Cleantech Startups

Three Canadian cleantech startups have made the news. They are among the 20 finalists for the XPRIZE Carbon Removal challenge. The Musk Foundation has funded this four-year contest to prevent climate change. A stunning $100 million incentive is offered to entrepreneurs who can capture and sequester carbon dioxide (CO2) from the atmosphere or oceans. These teams created new carbon dioxide removal (CDR) ideas in four areas: air, ocean, land, and rocks.

Canada’s Coast-to-Coast Representation

Canada is well-represented in this competition. The finalists include startups from Vancouver, Sherbrooke, and Dartmouth.

Arca in the “Rocks” Track

Arca, headquartered in Vancouver, concentrates on the “rocks” track. Their novel strategy includes igniting magnesium silicate in mine tailings. This method extracts carbon from the air. Arca’s co-founder and head of science, Greg Dipple, says, “99 percent of the Earth’s carbon is stored in rocks.” Arca attempts to accelerate carbon mineralization, converting carbon into rock.

Skyrenu in the “Air” Track

Skyrenu, from Sherbrooke, Quebec, competes on the “air” track. They employ a direct air capture (DAC) method with a rock carbonation process. This method uses treated asbestos mine tailings. Skyrenu is also collaborating with Deep Sky to develop large-scale infrastructure throughout Canada.

Planetary Technologies in the “Ocean” Track

Planetary Technologies, situated in Dartmouth, falls under the “oceans” category. They created an Ocean Alkalinity Enhancement (OAE) technique. This approach eliminates carbon from the atmosphere and lowers local ocean acidity. It treats the water with an antacid and monitors the process via a network of tanks, sensors, and pumps.

Selection and Prizes

XPRIZE chose the finalists based on their performance in operations, sustainability, and cost. The program has already awarded $5 million to 23 student teams and $15 million to 15 “milestone winners.” An additional $30 million will be paid to the runners-up in April 2025.

Past Successes

It is not the first time Canadian entrepreneurs have excelled in carbon capture competitions. In 2021, Dartmouth’s CarbonCure Technologies won the USD 7.5 million grand prize in the NRG COSIA Carbon XPRIZE. They captured and transformed industrial CO2 emissions into useful products.

The journey to April 2025 is critical for many Canadian startups. Their innovations have the potential to alter climate change significantly. The world will watch as they attempt to meet their carbon reduction targets and potentially win the grand prize.