(109f) The $10 Million “Carbon Capture and Recycling (CCR) Prize"
- Conference: AIChE Spring Meeting and Global Congress on Process Safety
- Year: 2011
- Proceeding: 2011 AIChE Spring Meeting and Global Congress on Process Safety
- Group: Advanced Fossil Energy Utilization
Wednesday, March 16, 2011 - 4:05pm-4:30pm
Prize Capital is working with the X PRIZE Foundation, St. Louis Science Center and two major utilities to create a high profile international competition focused on developing and deploying viable technologies that can cost-effectively recycle carbon emissions from coal-based power plants into brilliant new products such as fuel and building materials.
Innovators will compete for a $10 million prize and an advanced market commitment to deploy at full scale a 400MW coal-based power plant. Through the course of the competition, these innovators will have access to land and resources adjacent to a real world power plant where they can deploy, plug-in, and prove their technologies. They also have the potential to receive capital through the patent-pending Prize Capital funding mechanism, which provides financing to entrants for IP protection as well as tag-along investments.
The CCR Prize will offer unparalleled leverage to create radical breakthroughs as it inspires innovators to develop deployable approaches to solving a global problem.