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DRAFT FOR PUBLIC REVIEW & COMMENT 205 Student Awards (Year 1) 206 XPRIZE will award up to $5M to student teams in the Fall of 2021. These awards may fund 207 participation in the XPRIZE Carbon Removal, as well as the development of key supportive 208 technologies. Applications for student awards will be due on October 1, 2021, with first awards 209 to be announced in November 2021. 210 Phase 1 - Proof of Concept (Year 2): 211 To be eligible to win a Milestone Prize, teams are required to submit a proposal for their carbon 212 removal solution and participation in the prize, including data and evidence of progress to date, 213 cost modelling, and pathway to achieving full scale. Submissions are due on February 1, 2022. 214 See “Evaluation Criteria” for more details. 215 Phase 2 - Full Demonstration (Years 2-4): 216 To be eligible to win a Grand Prize, teams must demonstrate their entire carbon removal 217 solution end-to-end in the final year of competition. Demonstrations must qualify for a site visit, 218 during which XPRIZE will verify each Finalist team’s performance. Teams must apply for a site 219 visit by the Finalist Submission Deadline (Feb 1, 2024) by submitting data and evidence of their 220 carbon removal solution’s ongoing operations, a cost model, and evidence that the 221 competition’s sustainable scalability criteria are met. Twenty (20) teams will be granted site 222 visits, which will be conducted between May 2024 - January 2025. Qualifying for a site visit 223 signifies a team as a XPRIZE Carbon Removal Finalist. 224 Phase 2 -- Winner Selection (Year 4) 225 In February 2025, Finalists will have an opportunity to submit a final data set and updated cost 226 model to XPRIZE judges before being considered for the Grand Prizes. The Grand Prize 227 Winners will be announced on Earth Day, April 22, 2025. Version 1.0, April 22, 2021. Copyright XPRIZE Foundation 11PDF Image | XPCR Draft
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