Media Contact: Hannah Whitson
KNOXVILLE, Tenn. - SkyNano Technologies, a local startup and developer of a manufacturing technique for the capture and conversion of CO2 from various sources into valuable carbon-based materials, has been named a top 60 finalist for the Milestone Awards in the largest incentive prize in history, Elon Musk’s 100M XPRIZE Carbon Removal.
The $100M XPRIZE to develop carbon removal technologies at scale recently conducted Phase 1 and 2 for the Milestone Awards with a XPRIZE record setting 1,133 submissions. SkyNano is the only Tennessee applicant still remaining in the Milestone Awards competition.
In order to compete, SkyNano was required to demonstrate a working carbon removal solution, estimate costs at scale and develop a plan for scaling and deploying their technology at a megatin and gigaton per year capacity. Potential scaling of SkyNano’s technology had to be equivalent to that needed to move the needle on climate change.
Just prior to its submission in February, SkyNano announced the first ever capture of flue gas from Tennessee Valley Authority’s (TVA) John Sevier combined cycle power plant and production of carbon nanotubes from flue gas emissions. Manufacturers normally synthesize nanotubes from hydrocarbons in an emissions-heavy process, so producing them through the transformation and utilization of carbon dioxide from power generation is a major technological breakthrough that opens the door to uses of power plant emissions that can help decarbonize the grid.
Teams are hoping to walk away with 1 of 15 $1M Milestone Awards, a recognition going to the most promising carbon removal concepts that will help Earth restore its carbon balance. XPRIZE will announce its 15 Milestone Award winners on Earth Day this Friday, April 22.
About SkyNano Technologies
SkyNano is a science-based technology company focused on commercializing a free-market solution to carbon pollution. It specifically develops a novel electrochemical manufacturing technology for the capture and conversion of CO2 from various sources (atmospheric, concentrated, flue gas) into valuable carbon-based materials such as carbon nanotubes. SkyNano's technology has been featured in many peer-review scientific papers, received recognition from a 2020 R&D100 award, a 2021 TechConnect Innovation Award, and was recognized with a Forbes 30 Under 30 award to our Co-Founder and CEO Dr. Anna Douglas. In fact, both SkyNano founders are Forbes 30 Under 30 innovators, as Prof. Cary Pint was awarded the recognition in the inaugural year of the awards. To learn visit: https://www.skynanotechnologies.com/.