In a recently announced collaboration aimed at tackling one of humanity’s most pressing issues, Deep Sky, a Montreal-based venture specializing in carbon removal and storage solutions, has joined forces with XPRIZE, the renowned pioneer of incentive competitions geared towards solving global challenges.
This strategic partnership is set to fast-track the development of innovative carbon dioxide removal solutions to combat the ever-escalating threat of climate change.
At the forefront of this joint effort, Deep Sky is extending an invitation to XPRIZE Carbon Removal teams to test their carbon dioxide removal solutions in a real-world setting.
This unique opportunity will take place within Deep Sky’s commercialization project, Alpha, and also encompasses the potential for prototyping and licensing agreements, each valued at a minimum of $1 million.
Importantly, this offer stands open to all participating teams submitting their solutions in the final round of the competition, regardless of whether they clinch the coveted title of Finalist.
Fueling this endeavor is the $100 Million XPRIZE Carbon Removal, funded by the Musk Foundation.
A four-year global competition, the XPRIZE Carbon Removal initiative is dedicated to incentivizing groundbreaking carbon removal solutions spanning four tracks: air, oceans, land, and rocks.
To clinch victory, participating teams must demonstrate the capacity to eliminate and durably sequester a substantial 1000 tonnes of CO2 annually, coupled with the ability to scale their solutions to a gigaton level by the year 2050.
“Deep Sky is unwavering in its commitment to reversing the tide of climate change, positioning itself as a global hub for launching transformative carbon removal projects.
XPRIZE Carbon Removal teams embody a goldmine of technological and scientific brilliance capable of catalyzing positive planetary impact. We are thrilled to provide support to these innovators, who are diligently striving to turn the improbable into the attainable.” – Fred Lalonde, Co-Founder of Deep Sky
Nikki Batchelor, Executive Director of XPRIZE Carbon Removal, emphasized the broader vision driving the competition, stating, “Beyond the prize’s immediate goal lies the ambition of fostering an entirely new carbon dioxide removal industry.
Recognizing the imperative for a spectrum of rigorously-tested carbon removal solutions to meet global climate objectives, and acknowledging that scaling this industry to gigaton levels hinges on the backing and investment of visionary entities such as Deep Sky.”
Deep Sky’s mission is anchored in constructing expansive carbon removal and storage infrastructure within Canada.
As a project developer, the company orchestrates the convergence of the most promising direct air and ocean capture technologies, aiming to deliver a substantial supply of premium carbon credits to the market.
Powered exclusively by renewable energy sources, Deep Sky’s facilities are strategically positioned in Québec, a region blessed with abundant hydroelectric and wind power potential, as well as the geological elements requisite for effective carbon capture.
Enthusiastic teams are encouraged to register for the XPRIZE Carbon Removal competition prior to the impending September 7, 2023 deadline.
About Deep Sky: Hailing from Montreal, Deep Sky is in the vanguard of establishing the world’s first gigaton-scale carbon capture enterprise.
With the ambitious goal of extracting billions of tons of carbon from the atmosphere and safely storing it underground, Deep Sky unites the most promising direct air and ocean carbon capture entities under its banner.
This convergence seeks to amass an extensive supply of top-tier carbon credits, while also revolutionizing the commercialization of carbon removal and storage solutions. For further insights, explore: www.deepskyclimate.com.
About XPRIZE: A globally recognized trailblazer, XPRIZE specializes in conceiving, launching, and executing large-scale competitions that confront the most formidable challenges facing humanity.
Distinguished by its innovative model that champions crowd-sourced, scientifically viable solutions, XPRIZE aspires to foster a more equitable and prosperous future for all. To make a contribution, learn more, or get involved, visit: xprize.org.
