Three Canadian Companies Named Finalists in Musk-Funded XPRIZE Carbon Removal Competition

The 20 finalists, including three Canadian cleantech startups, will now compete in the final stage of the competition. The challenge is to remove 1,000 net tonnes of CO2 during the last year, and the winner will be announced in April 2025. The finalists will also be judged on their solutions' scalability and feasibility, with the potential to make a significant impact on combating climate change. The XPRIZE Carbon Removal competition follows the success of the NRG COSIA Carbon XPRIZE in 2021, which was won by Canadian cleantech startup CarbonCure Technologies.  As global warming continues to pose a critical threat, these innovative carbon removal solutions are becoming increasingly important in the fight against climate change. The XPRIZE Carbon Removal competition has entered its final stage, with 20 finalists vying for the $50 million grand prize. Over the next year, these contenders are tasked with removing 1,000 net tonnes of CO2 from the atmosphere or oceans, as they compete to win the title in April 2025. The evaluation of the finalists will also consider the scalability of their technologies, aiming for megaton-capture levels in the short term and gigaton-capture levels by 2050.