![]() ![]() ![]() The Carbfix process injects water-dissolved CO 2 and turns it into stone underground in under two years through technology that imitates and accelerates natural processes, providing a permanent and safe carbon storage solution.The firm, which raised a separate $800 million climate fund last summer, backs companies “buying us time to unf**ck the planet” through three main approaches: adapting to the rising dangers, cutting greenhouse-gas emissions, or removing those gases from the atmosphere. Sahag Voskian, the company is commercializing its electroswing adsorption (ESA) platform technology, originally developed at MIT, to remove carbon dioxide from industrial emissions and the air with 70% energy savings versus conventional approaches.Ĭarbfix is the world ‘s first CO 2 mineral storage operator, celebrating 10 years since first tonne of CO 2 was injected for mineralization. Verdox is making scalable, cost-effective carbon capture and removal a reality. ![]() Presently, we are aiming for significant upscaling of our tried and tested technology, an ambition which will be greatly supported by our XPRIZE success and our excellent partnerships in those projects.” “We’ve already been applying our method of underground CO2 mineralization for 10 years. “We’re immensely honored to receive such a solid recognition in this prestigious and highly competitive global competition,” said Edda Sif Pind Aradóttir, CEO of Carbfix. XPRIZE’s recognition of Verdox and Carbfix’s combined potential is yet another signal that the future of carbon removal will be electric,” said Verdox CEO Dr. We launched Verdox two years ago on the promise of our novel electrochemical carbon capture system, which has been shown to reduce the energy penalty for capture by up to 70%. We believe carbon removal will be essential to humanity’s sustainable development, but it will never be deployed at a significant scale if the required energy and cost cannot be reduced significantly. “We are delighted to receive this competitive award together with our partners at Carbfix. A panel of judges then dove deep into operations plans, performance data, life cycle analysis and cost estimates to select the Milestone award winners. The inbound proposals were screened and ranked by 70 expert reviewers for scientific validity, which resulted in a selection of the top 60 teams. Winning solutions were required to demonstrate the ability to achieve net negative emissions, sequesters carbon dioxide durably over at least 100 years, and show a sustainable path to ultimately achieving gigatonne scale. The $1M Milestone awards were presented to 15 winners out of 1,133 registrants and 287 qualifying teams, which successfully completed the demanding submission process. Phase two of the competition will see an additional $80M distributed among three winners in 2025. ![]() This XPRIZE Carbon Removal competition, funded by Elon Musk and the Musk Foundation, is the largest incentive prize in history and the XPRIZE Carbon Removal teams represent the largest collection of innovators working on carbon removal. BOSTON-( BUSINESS WIRE)- Verdox, an electric carbon capture and removal company, today was announced as a winner of the $1M XPRIZE Carbon Removal Milestone award as part of the Verdox & Carbfix team. ![]()
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