Blending Economics and Innovation to tackle CO2 Emissions with the NRG COSIA Carbon XPRIZE, Global Competition
XPRIZE is poised to change the future of CO2 emissions, for good. The NRG COSIA Carbon XPRIZE is a $20 Million global competition, which brings the brightest minds from around the world to develop breakthrough technologies that convert CO2 emissions into valuable, usable products that will help solve the challenge.
XPRIZE brought Afara on to help answer the question “How do you create a system that will fairly evaluate the economics and potential net value from turning CO2 from an industrial pollutant to an industrial input?”
Tasked with creating a system that would evaluate the economics of one of the most innovative undertakings of our generation, AFARA set to work gathering data and assessing the moving parts of this bold initiative.
XPRIZE counted on AFARA to design the model and capture pricing and market data for over 50 different inputs, outputs, and intermediary products, as well as establishing fair measurement protocol backed by science. Collaboration began behind the scenes, allowing Afara to best understand the nuances of this competition – like standing wide eyed at base camp. Connection and clear communication was essential to identify expectations, challenges and solutions as no one had ever created an economic model like this before.
AFARA understood the assessment tool would be scrutinized intensely and the work had to stand the test of time, warranting the dedication to the path less chosen. AFARA worked closely with XPRIZE, the Prize Judges, Advisors, and the Prize Teams to build the tools needed to fairly judge and score innovations that could change the future of our world.