XPRIZE Carbon Removal Competition 2021 by Elon Musk and the Musk Foundation [Prizes Worth Rs. 10 Cr]: Apply Now!

Share on facebook
Facebook
Share on twitter
Twitter
Share on whatsapp
WhatsApp
Share on linkedin
LinkedIn
Share on email
Email

Applications are invited for the XPRIZE Carbon Removal Competition 2021 by Elon Musk and the Musk Foundation.

About the Competition

XPRIZE Carbon Removal is aimed at tackling the biggest threat facing humanity – fighting climate change and rebalancing Earth’s carbon cycle. Funded by Elon Musk and the Musk Foundation, this $100M competition is the largest incentive prize in history, an extraordinary milestone.‎

Background

The climate math is becoming clear that we will need gigaton-scale carbon removal in the coming decades to avoid the worst effects of climate change. The International Panel on Climate Change (IPCC) estimates the need at approximately 10 gigatonnes of net CO2 removal per year by the year 2050 in order to keep global temperature rise under 1.5 or 2C. As governments, companies, investors, and entrepreneurs make plans to meet this challenge, it is clear that we will need a range of carbon removal solutions to be proven through demonstration and deployment to complement work that is already underway. If humanity continues on a business-as-usual path, the global average temperature could increase 6˚(C) by the year 2100.

This four-year global competition invites innovators and teams from anywhere on the planet to create and demonstrate solutions that can pull carbon dioxide directly from the atmosphere or oceans, and sequester it durably and sustainably. To win the grand prize, teams must demonstrate a working solution at a scale of at least 1000 tonnes removed per year; model their costs at a scale of 1 million tonnes per year; and show a pathway to achieving a scale of gigatonnes per year in future.

Any carbon negative solution is eligible: nature-based, direct air capture, oceans, mineralization, or anything else that achieves net negative emissions, sequesters CO2 durably, and show a sustainable path to achieving low cost at gigatonne scale.

Eligibility

To qualify as a student, applicants must:

  • Be enrolled in at least one course at an educational institution at the time of application, or show proof of recent completion of the 2020-2021 academic year.
  • Not exceed 35 years of age at the time of application.

Student Teams may be formed out of existing research groups, student clubs, or they may be independently incorporated, provided they meet the eligibility criteria listed below.

Student Teams must:

  • Be composed of >50% students enrolled at an educational institution for the 2021-2022 academic year or show proof of recent completion of the 2020-2021 academic year.
  • Be led by a student who is enrolled for the 2021-2022 academic year.
  • Identify an academic advisor or business leader who will act as a formal mentor to the team.
  • Provide a letter of support from their academic institution. This may come from faculty or an administrator.
  • Identify the legal entity to which the award will be paid: This may be the student’s academic institution or a registered private organization. XPRIZE cannot award prize money to individuals directly.
  • Example student teams could be research groups or extracurricular student groups.
Prize

The $100M prize purse will be distributed as follows:

After 1 year of competition, the judges will review all submissions received by that time and award up to 15 Milestone Prizes of $1 million each. At the discretion of the judges, these awards may be granted on a conditional basis, subject to the team’s demonstrated commitment to continuing to develop and advance their solutions and to compete for the Grand Prize.

After 4 years, judges will select the winners:

  • $50 million paid to the single Grand Prize Winner
  • $30 million to be distributed among up to 3 runners up

XPRIZE will also award up to US$5M to student teams in the Fall of 2021. These awards may fund participation in the XPRIZE Carbon Removal or the development of key supportive technologies.

How to Apply?

Interested applicants can apply for the opportunity through this link.

Contact

Email: carbonremoval@xprize.org

For more details, click the link below.

XPRIZE Carbon Removal Competition 2021

 

More such opportunities that you might be interested in:

Disclaimer : We try to ensure that the information we post on Noticebard.com is accurate. However, despite our best efforts, some of the content may contain errors. You can trust us, but please conduct your own checks too.

Share on facebook
Facebook
Share on twitter
Twitter
Share on whatsapp
WhatsApp
Share on linkedin
LinkedIn
Share on email
Email

Leave a Comment

Hey, wait!

Get first mover advantage over opportunities, get them in your inbox!

x