TORONTO, June 19, 2024 – XPRIZE is proud to select Creative Destruction Lab (CDL) as its strategic partner for the Carbon Removal prize, an ambitious $100 million initiative funded by the Musk Foundation designed to combat climate change by rebalancing Earth’s carbon cycle. This collaboration brings together the strength of CDL’s mission to enhance the commercialization of science for the betterment of humankind with the transformative vision of XPRIZE in accelerating solutions toward humanity’s grand challenges.

XPRIZE Carbon Removal has catalyzed an entirely new carbon dioxide removal (CDR) industry, with over 1,300 teams worldwide having joined the race, half of which were founded in response to the competition.  The four-year global competition calls upon teams to develop and demonstrate solutions that can pull carbon dioxide directly from the atmosphere or oceans, and sequester it durably and sustainably. Teams must exhibit a working solution that achieves the competition’s goal of removing 1,000 net tonnes of CO2 in the final year of the competition, and a viable pathway to reaching megatonne scale in the coming years and eventually gigatonne scale before 2050, with an understanding of their environmental and social impacts.

This partnership extends beyond the competition itself. Teams working on XPRIZE Carbon Removal initiative will be integrated into CDL streams globally as XPRIZE-CDL Carbon Removal ventures.  

“CDL is delighted to partner with XPRIZE Carbon Removal, combining our focus in research, commercialization, and mentorship, to address the critical challenge of climate change. CDL Carbon Removal will integrate XPRIZE’s vibrant global startup ecosystem with CDL’s marketplace for support  and network of world-class entrepreneurs, investors, and academics. Our partnership will significantly boost the business capabilities of technical founders, enhancing their ability to address these urgent climate goals.” – Sonia Sennik, CEO, Creative Destruction Lab

“XPRIZE is thrilled to announce our partnership with CDL, uniting our expertise and resources to propel the next generation of carbon removal innovators. By leveraging the unique strengths of both organizations, we are committed to creating an environment where visionary ideas can flourish. With this partnership, we will amplify our efforts to build and scale transformative companies, ensuring that these pioneering solutions can meet the immense challenges of the climate crisis. We are excited to see the groundbreaking progress that will emerge from this enhanced collaboration.” – Anousheh Ansari, CEO XPRIZE.

Together, CDL and XPRIZE Carbon Removal aim to accelerate groundbreaking solutions that will shape a sustainable future for generations to come.

Learn more about the program by emailing

About Creative Destruction Lab

Creative Destruction Lab (CDL) is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded by Professor Ajay Agrawal in 2012 at the University of Toronto’s Rotman School of Management, the program has expanded to 13 sites across seven countries: Oxford, Seattle, Paris, Atlanta, Madison, Vancouver, Calgary, Montreal, Halifax, Berlin, Estonia, and Melbourne.


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