Carbofex Registers For $100 Million XPRIZE Carbon Removal To Build Scalable Climate Change Solution

TAMPERE, Finland - Feb. 22, 2022 - PRLog -- Tampere, Finland – Carbofex, EBC-certified biochar producer with proprietary pyrolysis technology for CO2 removal, has officially registered for the $100M XPRIZE Carbon Removal, aimed at tackling climate change by asking global innovators to develop solutions that can pull carbon dioxide directly from the atmosphere or oceans and lock it away permanently in an environmentally benign method.

Our Carbofex Team is very proud to participate in this competition. "The XPRIZE Carbon Removal challenge fits well to our growth strategy by introducing climate positive pyrolysis technology", says Founder and CEO Sampo Tukiainen. "Biochar is one of the best options we have in the challenge of climate change – it is available and scalable and through us totally viable. We intend to realize its full potential when scaling to a gigatonne of CO2 removal." Carbofex was the first commercially run pyrolysis plants in the world and the first certified European biochar producer and helped develop the methodology for CO₂ removal trading. It has developed a CO₂-removal process that permanently removes atmospheric CO₂; converting unutilized biomass into valuable biochar with proprietary pyrolysis technology. The process removes CO₂ from atmospheric circulation by using biochar as a carbon sink.

Officially launched on Earth Day 2021, XPRIZE Carbon Removal is a four year global competition. To win the $50M grand prize, the winning teams must demonstrate a working solution at a scale of at least 1000 tonnes removed per year; model their costs at a scale of 1 million tonnes per year; and show a pathway to achieving a scale of gigatonnes per year in future. All demonstrations must be validated by a third party. "The goal of this CO2 Removal XPRIZE is to turn ideas into demonstration, and turn powerpoint solutions into hardware," said Peter H. Diamandis, founder and executive chairman of XPRIZE. "By launching the largest prize competition in history, our hope is to focus the brainpower of engineers, scientists and entrepreneurs around the world to build solutions that actually work, at low-cost and at massive scale."

For more information on XPRIZE Carbon Removal, to view the prize guidelines or to register, please visit http://www.xprize.org/carbonremoval

To learn more about Carbofex, please visit http://www.carbofex.fi