NEWS COMMENTARY

Elon Musk partners with XPRIZE for $100 million CO₂ capture competition

Published:
February 09, 2021
Coverage:
Owning the Energy Transition
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Investment
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Following his tweet last week that he would donate $100 million to the developer of the "best carbon capture technology," Musk formalized his announcement by partnering with the XPRIZE Foundation to run the competition. The XPRIZE is best known for its NRG COSIA competition, an ongoing initiative where CO2 utilization companies compete for a $20 million prize. The NRG COSIA competition brought CO2 utilization to the global limelight, and competitors include CarbonCure, which has since become one of the most successful companies in the space. Details on the new Carbon Removal competition will be unveiled later, but this initiative will be a huge boost for companies developing carbon-negative technologies like direct air capture. 

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