The four-year XPRIZE Carbon Removal competition has finally found its winner.
Elon Musk’s foundation awarded its $50 million grand prize in a competition for the best technology to capture and remove carbon from the atmosphere to Mati Carbon, an Indian company that developed a solution using crushed rocks.
Mati Carbon was among more than 1,300 teams from 88 countries that participated in the four-year XPRIZE Carbon Removal competition funded by Musk, launched in 2021 to encourage the deployment of carbon-removal technologies.
Shantanu Agarwal, CEO of Mati Carbon, believes his company’s relatively low-cost approach could „solve some planetary scale problems“ and help small farmers who often bear the brunt of climate change, as extreme weather like drought and floods destroy crops.
