CALGARY – A new $20-million competition sponsored in part by a group of oilsands companies is looking to find innovative ways to address carbon emissions.
Organized by the non-profit XPrize Foundation, the goal is to find new uses for converted carbon emissions, rather than an outright reduction in carbon dioxide production.
The competition runs for four and a half years and the winning team will be the one that converts the most CO2 into one or more products with the highest net value.
Possible solutions listed by the organizers include new ways to make cement, concrete and other building materials, chemicals to make industrial and consumer goods, low-carbon transportation fuels, or entirely new products.
Teams will be able to choose between capturing carbon emissions from a coal power plant or a natural gas facility.
The prize is being funded by U.S.-based NRG Energy, a utility that promotes renewable energy, along with Canada’s Oil Sands Innovation Alliance, founded by 13 oilsands companies to find ways to reduce the environmental impacts of the industry.
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