The US$20 million NRG COSIA Carbon XPRIZE is a global initiative, operated by the XPRIZE Foundation, designed to accelerate new technologies by converting CO2 emissions from industrial facilities for electricity generation and oil and gas production into valuable and usable products.
The competition is structured as a two-track prize, with the new technologies tested at either a coal power plant or a natural gas power plant. A total of US$20M will be awarded to winning teams, with US$10M awarded for each track.
The NRG COSIA Carbon XPRIZE has two co-title sponsors: NRG and Canada’s Oil Sands Innovation Alliance.
NRG, America’s largest and most diverse competitive power company, creates value through reliable and efficient conventional generation, while driving innovation in renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions.
COSIA is an alliance of oil sands producers focused on accelerating the pace of improvement in environmental performance in Canada's oil sands through collaborative action and innovation. The COSIA sponsorship is funded by seven of the member companies: Canadian Natural Resources, Cenovus, Devon, Imperial Oil, Nexen Energy ULC, Suncor and is led by ConocoPhillips Canada.
We know that excess CO2 emissions contribute to climate change. As an industry, we’ve made progress to reduce our emissions through innovation and technology but we want to keep improving. That’s why we’re working together with the XPRIZE Foundation. By attracting diverse innovators from around the world, the NRG COSIA Carbon XPRIZE will be an important catalyst for innovation, accelerating potential solutions that may be applied to Canadian oil sands operations. If we can find a way to recycle emissions into useful products, we can significantly reduce CO2 from our oil sands operations, allowing us to be part of the solution to address the global challenge of managing CO2 emissions.