“The XPRIZE foundation is a non-profit organization that awards prizes to incentivize radical technical and scientific breakthroughs for the benefit of humanity. In February 2021, XPRIZE announced its largest prize contest thus far: XPRIZE Carbon Removal aims at developing sustainable solutions for the reduction of carbon dioxide (CO2) in the atmosphere. Funded by Elon Musk and the Musk Foundation, the $100 Million competition is the largest incentive prize in history. This challenge comes at an excellent time for Atmospherica: our bioreactor technology has been demonstrated under realistic conditions, and biochemical and economic models for scaling up our technology have been developed. We could show that Atmospherica’s innovative approach of using photosynthetic microalgae in a controlled environment will enable permanent removal of CO2 from the atmosphere. Importantly, the design of our system is not only intrinsically scalable, but its realization will have a negative carbon footprint when all inputs and products are considered.It is time to put our vision to the test. On February 1st, 2022, Atmospherica entered the milestone stage of the XPRIZE Carbon Removal competition with the goal of securing funding for achieving our next crucial milestone: realizing a prototype bioreactor plant that achieves a net carbon removal of more than 1 kiloton of CO2 per year.”

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