XPrize in Carbon Removal Goes to Enhanced Rock Weathering

AI generated summary

The XPrize Foundation has announced the winners of its $100 million competition focused on carbon removal, with Houston-based startup Mati Carbon winning the grand prize of $50 million for its innovative enhanced rock weathering technique. This method involves spreading crushed basalt on small farms in India and Africa, which not only improves soil quality but also helps sequester carbon dioxide from the atmosphere by converting it into bicarbonate ions. Mati Carbon's advanced data collection and verification processes impressed the judges, as they monitor soil conditions and carbon storage through sophisticated technology.

In addition to Mati Carbon, three runners-up were recognized for their contributions to carbon removal technologies. Paris-based NetZero received $15 million for converting agricultural waste into biochar, while Vaulted Deep and Undo Carbon were awarded $8 million and $5 million, respectively, for their innovative carbon sequestration methods. Notably, companies focusing on direct air capture and ocean carbon removal did not meet the competition's threshold of removing at least 1,000 tonnes of carbon, highlighting the challenges faced by more technologically advanced solutions in achieving rapid deployment.