WASHINGTON (dpa-AFX) - Mati Carbon, a Houston-based climate tech startup, has won the $50 million grand prize in the global XPRIZE Carbon Removal competition, funded by Elon Musk's foundation.
The contest, launched in 2021, drew over 1,300 teams from 88 countries, aiming to accelerate scalable carbon removal technologies to combat global warming.
Mati's winning solution leverages enhanced rock weathering-a natural process accelerated by spreading finely crushed basalt on farmland. When rain interacts with atmospheric CO2, it forms a weak acid that breaks down the rock, converting CO2 into bicarbonate that is eventually carried to the ocean, where it remains stored for thousands of years. The technique also improves soil fertility and crop productivity, offering dual benefits for climate and agriculture.
'This approach has the potential to address climate change at a planetary scale while supporting smallholder farmers, particularly in vulnerable regions like India,' said Mati CEO Shantanu Agarwal.
Other top winners included France-based NetZero, which earned $15 million for transforming agricultural waste into biochar-a substance that sequesters carbon in soil while enhancing nutrient and water retention. Additional prizes were awarded to Vaulted Deep and Undo Carbon, whose technologies also demonstrated successful carbon sequestration at scale.
To qualify, each finalist had to remove at least 1,000 tons of CO2 in one year and present a viable plan to scale to one million tons annually. Though carbon removal is still in its early stages, experts emphasize it must complement deep emissions reductions to meet global climate goals.
XPRIZE officials say future contests may target methane reduction, reforestation, and climate adaptation as part of a broader push to accelerate climate solutions worldwide.
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