This week XPRIZE announced the 23 student-led teams that shared the US$5M Student Awards purse in XPRIZE Carbon Removal.
18 of teams will receive US$250,000 to jump-start carbon removal projects, while 5 teams will receive US$100,000 to develop technologies that will support the Measurement, Reporting or Verification of Carbon Removal solutions more broadly.
XPRIZE received 195 complete submissions from 44 countries. Each student team was required to submit a detailed proposal outlining the project they intend to execute. Beyond the project details, teams needed to convince XPRIZE’s independent panel of judges that their project was scientifically viable, that their project at scale can have a meaningful positive impact on climate change, and that the team (who were required to be majority students and led by students) had the skills required to pull it all off.
XPRIZE notes the teams who were successful in this round were able to articulate the most clear and detailed plans for sustainable, carbon negative projects that will result in durable CO2 sequestration (or, in the case of the MRV teams, best support carbon removal).
US$95 million is still up for grabs.