This year, one of the competitors in the XPRIZE carbon removal competition is Carbofex, an EBC-certified biochar producer.
The company has been working on a pyrolysis technology to remove CO2 and it has registered in the $100M XPRIZE carbon removal contest. XPRIZE for carbon capture draws in global innovators with solutions to pull CO2 from the atmosphere and permanently lock it away using environmentally friendly methods.
The XPRIZE Competition – Innovation to reduce CO2
There are many ways to reduce atmospheric carbon, such as the ocean, nature-based, mineralization, direct air capture, etc. Anything that has the potential to help achieve net zero or negative emissions is considered a good idea in the competition.
The winning teams are expected to present a working solution that can remove a minimum of 1000 tons of CO2 per year to win the grand prize. They need to also model their costs at 1 million tons per year and demonstrate the feasibility of their project for the future.
A third party validates all demonstrations. The main objective behind XPRIZE is to turn these ideas into working solutions that will effectively remove CO2 at scale.
This is the largest prize competition in history and a great opportunity for scientists, engineers and entrepreneurs to build the solutions that we all really need.
Carbofex- A new XPRIZE competitor
Carbofex is the first certified European biochar producer and the first commercially run pyrolysis plant in the world. The company has helped design a method for carbon removal trading.
Moreover, Carbofex developed a biochar based CO2-removal methodology with Puro.earth, and became the first company to sell biochar-based CO2-removal certificates.
Its carbon dioxide removal process permanently removes CO2 from the atmosphere and converts unutilized biomass into valuable biochar using proprietary pyrolysis technology.
The method uses biochar as a carbon sink and absorbs CO2 from the air.
And now, the Carbofex team is a proud participant in the competition and has high hopes of contributing to the environment. Winning the XPRIZE carbon removal competition with the climate-positive pyrolysis technology is perfect for their growth strategy.
Biochar is scalable, available, and viable, as Carbofex argues, and the firm is convinced in its potential to scale it to a gigaton of CO2 removal.
The continuous pyrolysis unit makes extensive use of biomass. The unique controlled pyrolysis technique allows for the usage of a wide range of raw materials and precise carbonization.
As carbon pollution is rising day by day, it is clear that we will need gigatons to scale carbon removal in a decade or so. The worst side effects of carbon in the atmosphere are yet to come, and now is the chance to prevent them.
The International Panel on Climate Change (IPCC) claims we need around ten gigatons of CO2 removal every year by 2050 to keep the global temperature rise under 1.5˚C.
Investors, entrepreneurs, and governments are all working hard to tackle this challenge. A variety of carbon removal solutions will be needed moving forward. If left unaddressed, the planet’s average temperature could rise by 6˚(C) by the year 2100.