Deep Sky Becomes Scale-Up Partner for XPRIZE Carbon Removal Competition

MONTRÉAL and LOS ANGELES, Aug. 16, 2023 /PRNewswire/ -- Deep Sky, a Montreal-based venture commercializing carbon removal and storage solutions at scale, is partnering with XPRIZE, the world leader in designing and operating incentive competitions to solve humanity's grand challenges, to accelerate the development of new carbon dioxide removal solutions to combat climate change.

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Deep Sky is opening up an opportunity for XPRIZE Carbon Removal teams to pilot their carbon dioxide removal solutions at Deep Sky's commercialization project, Alpha, as well as prototyping and licensing deals worth at least $1 million each. This offer is open to all competing teams who submit to the final round of the prize, regardless of whether they are named a Finalist.

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 ability to scale to gigaton level by 2050.

"Deep Sky is committed to reversing climate change, and becoming the world destination to launch carbon removal projects," said Fred Lalonde, Co-Founder, Deep Sky. "XPRIZE Carbon Removal teams present a goldmine of technological and scientific talent that can make a positive impact on our planet. We're thrilled to support the innovators working to make the impossible possible."

"The bigger goal of the prize is to create a whole new industry around carbon dioxide removal," said Nikki Batchelor, Executive Director, XPRIZE Carbon Removal. "We know that a range of thoroughly-tested carbon removal solutions will be necessary to meet global climate targets, and scaling this industry to gigatonne levels will not happen without the support and investment of visionary organizations like Deep Sky."

Deep Sky is working to build large-scale carbon removal and storage infrastructure in Canada. Acting 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. Powered by renewable energy, Deep Sky's facilities are strategically located in Québec, a region with an abundance of hydroelectric power, immense wind power potential and a vast territory with the rich geological makeup required for carbon capture.

Teams are encouraged to register to compete in XPRIZE Carbon Removal before the September 7, 2023 deadline. Learn more and sign up at xprize.org/carbonremoval.

Deep Sky

Montreal-based Deep Sky is building the world's first gigaton-scale carbon capture company, aiming to remove billions of tons of carbon from the atmosphere and permanently store it underground. 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. For more information, visit: www.deepskyclimate.com.

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.

SOURCE Deep Sky