The Carbon XPRIZE is intended to provide incentive for the development of technologies that convert CO₂ into a product or suite of products such as: alternative cement, concrete, and other building materials; chemicals used to manufacture a variety of industrial and consumer goods; low-carbon transportation fuels; and possibly new products altogether.

According to the International Energy Agency, 82% of the world’s energy supply is derived from fossil fuels. While cleaner energy sources are on the rise, overall energy demand is expected to grow 37% by 2040.

Carbon is a unique challenge in that as we move toward a low to zero-emission future, we’ll need to continue using fossil fuels to meet current energy demands. We’re using the highly effective XPRIZE process to engage the world’s brightest minds to find a solution that helps solve emissions problems, and simultaneously creates viable products that we use every day.

—Sicily Dickenson, chief marketing officer, NRG

XPRIZE will appoint a judging panel to evaluate the various technologies and approaches developed by teams during the competition. XPRIZE will also appoint a third-party Scientific Advisory Board of experts available to advise on a variety of approaches to CO₂ conversion.

The Carbon XPRIZE is a part of XPRIZE’s growing portfolio of Energy & Environment prizes and long-term vision for accelerating revolutionary energy technologies to help move the world towards a clean, abundant energy future.

Founded in 1995, XPRIZE creates and manages incentivized prizes in five areas: Learning; Exploration; Energy & Environment; Global Development; and Life Sciences. Active prizes include the $30M Google Lunar XPRIZE; the $15M Global Learning XPRIZE; the $10M Qualcomm Tricorder XPRIZE; and the $7M Adult Literacy XPRIZE.