UBC spin-off Carbin Minerals will receive $1 million from XPRIZE and the Musk Foundation to remove thousands of tonnes of carbon dioxide from the atmosphere, reducing greenhouse gas emissions.
Carbin Minerals accelerates and optimizes permanent carbon removal in mine tailings, with the goal of enabling mines to produce both net-negative emissions and the metals essential for the clean energy transition.
The prize is part of the XPRIZE Carbon Removal competition, funded by Elon Musk and the Musk Foundation. Another UBC spinoff, Takachar won the student version of the XPRIZE last year and will receive an additional $1 million this year.
According to co-founder Bethany Ladd, Carbin Minerals competition application demonstrated how they would remove 1,000 tonnes of carbon dioxide from the atmosphere at one mine site by 2024, and potentially remove mega- and giga-tonnes in the future.
Ladd said, “The Xprize money will help us set up our first pilot, hire a team, purchase equipment and start fulfilling carbon removal contracts. And we’re in the running for the grand prize of $50 million.”