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XPRIZE X Deep Sky
XPRIZE Top 100 Finalists Make Up More Than Half of Deep Sky Labs
MONTRÉAL and Los Angeles (June 5, 2024) — Deep Sky, Canada’s carbon removal project developer, has now unveiled 10 technologies that will be deployed at Deep Sky Labs and seven of them are XPRIZE Carbon Removal Top 100 teams, with the Top 100 representing a new generation of CDR innovators. XPRIZE is the world leader in designing and operating incentive competitions to solve humanity’s grand challenges.
Last year, Deep Sky opened up an opportunity for XPRIZE Carbon Removal teams to pilot their carbon dioxide removal solutions at the world’s first carbon removal innovation and commercialization center, Deep Sky Labs, as well as prototyping and licensing deals worth at least $1 million each. This offer was open to all competing teams who submitted to the final round of the prize, regardless of whether they were named a Finalist. Nine months later, seven of the Top 100 have been chosen to operate at Deep Sky Labs, making up more than half of the technologies on display.
The featured technologies are:
Additionally, Airhive, Captura and Skyrenu were named Top 20 finalists – a coveted position.
The $100 Million XPRIZE Carbon Removal, funded by the Musk Foundation, is a four-year global competition to incentivize breakthrough carbon removal solutions across four tracks: air, oceans, land, and rocks. In order to win, teams must remove and durably sequester 1000 tonnes of CO2 per year and demonstrate the potential to scale sustainably to gigaton level by 2050. Out of the Top 20 finalists, the grand prize winner will take home $50M in Spring of 2025, while $30M will be distributed amongst the runners up.
To date, Deep Sky has invested $30M USD in Deep Sky Labs technology and Balance of Plant, which is a measure of all of the supporting components such as renewable energy, water, storage, etc. Approximately $6.5M of the total has been invested in the Top 20 XPRIZE finalists, plus their respective Balance of Plant components.
“We remain committed to becoming the world destination to launch carbon removal projects,” said Phil De Luna, Deep Sky Chief Carbon Scientist and Head of Engineering. "After nine months of hard work from the XPRIZE Carbon Removal teams, Deep Sky is proud to have welcomed seven of the Top 100 and three of the Top 20 finalists to Deep Sky Labs. After vetting nearly 100 carbon removal companies from around the world, this elite group has earned themselves a spot at two coveted carbon removal destinations: XPRIZE and Deep Sky Labs. As global warming soars, these teams are needed more than ever.”
“XPRIZE aims to create a whole new industry around carbon dioxide removal,” said Nikki Batchelor, Executive Director, XPRIZE Carbon Removal. “As these teams have demonstrated, they not only have award-winning tech, but they also have major commercial potential, as we’re seeing in these Deep Sky deals. Scaling this industry to gigaton levels will not happen without the support and investment of visionary organizations like Deep Sky.”
Deep Sky is building large-scale carbon removal and storage infrastructure in Canada. As a project developer, the company is bringing together the most promising direct air and ocean capture technologies to deliver the largest supply of high quality carbon credits to the market.
Read more about XPRIZE Carbon Removal finalists at xprize.org/carbonremoval.
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About Deep Sky:
Montreal-based Deep Sky is the world’s first IP agnostic carbon removal project developer aiming to remove gigatons of carbon from the atmosphere and permanently store it underground. As a project developer, Deep Sky brings together the most promising direct air and ocean carbon capture companies under one roof to bring the largest supply of high quality carbon credits to the market and commercialize carbon removal and storage solutions like never before. With $75M in funding, Deep Sky is backed by world class investors including Investissement Québec, Brightspark Ventures, Whitecap Venture Partners, OMERS Ventures, BDC Climate Fund, and more. For more information, visit deepskyclimate.com.
About XPRIZE:
XPRIZE is an established global leader in designing, launching, and executing large scale competitions to solve humanity’s greatest challenges. Our unique model democratizes innovation by incentivizing crowd-sourced, scientifically viable solutions to create a more equitable and abundant future for all. Donate, learn more or join a team at xprize.org.
Media Contacts:
Brooks Wallace
Deep Sky
XPRIZE
Caitlin Chase
