xprize winners

Houston companies win big at Elon Musk-backed carbon removal competition

Houston-based Mati Carbon won the global XPRIZE Carbon Removal competition, funded by The Musk Foundation. Photo via LinkedIn.

Houston-based Mati Carbon has won the $50 million grand prize in the XPRIZE Carbon Removal competition, backed by Elon Musk’s charitable organization, The Musk Foundation.

Mati was selected in 2024 as one of 20 global finalists. The company removes carbon through its Enhanced Rock Weathering (ERW) program that works with agricultural farms in Africa and India.

The 3-year-old startup accelerates the natural process of rock weathering (ERW) by applying pulverized basalt to croplands of partnered smallholder farmers, free of charge. Mati says the farmers it partners with are some of the most vulnerable to the impacts of climate change.

“Winning this XPRIZE competition is an incredible honor and a definitive validation of our research and development, and building out the infrastructure needed to impact millions of farmers while delivering verifiable carbon dioxide removal at a gigaton scale,” Mati Carbon Founder and CEO Shantanu Agarwal, said in a news release. “I couldn’t be prouder, not just of the Mati team, but of our collaborators, research partners and the thousands of smallholder farmers who let us be part of their lives. This XPRIZE recognition will allow us to collaborate with local partners to accelerate the use of enhanced rock weathering across the Global South.”

Mati reports that it plans to use the award to “scale its efforts working with smallholder farmers worldwide.” Apart from the XPRIZE funding, Mati plans to grow its model through the sale of CDR credits. According to the company, it counts Shopify, Stripe, and H&M among its early carbon credit buyers.

“Mati Carbon’s deployments bolster farmers’ livelihoods through improved soil health, reduced agricultural inputs, and increased income at zero cost to them. Mati Carbon’s team has developed a scientifically rigorous approach to monitoring and verification, and excelled across each of XPRIZE’s prize evaluation criteria – operational, sustainability, and cost metrics – giving the XPRIZE judges the highest confidence in Mati Carbon’s solution’s long-term scalability,” the XPRIZE judges wrote.

Houston-based Vaulted Deep took home the second-runner-up prize in the competition and $8 million for its organic waste storage process. The company provides permanent carbon storage by injecting nonhazardous organic waste deep underground. It spun off with $8 million in seed funding from Advantek Waste Management Services in 2023.

"Our approach is grounded in geomechanical injection techniques that have been safely deployed globally for decades by our team and predecessors," Omar Abou-Sayed, co-founder and executive chairman of Vaulted, said in a separate release. "XPRIZE recognized that this is a proven approach—already in use, delivering impact, and built on the kind of reliability the industry needs to scale responsibly."

Launched in 2021, the four-year XPRIZE Carbon Removal competition challenged global innovators to deploy scalable solutions for removing carbon dioxide from the atmosphere and oceans. More than 1,300 teams from 88 countries competed. XPRIZE finalists were required to remove at least 1,000 tonnes of CO2 over a one-year demonstration period.

French company NetZero took home the first-runner-up prize of $15 million, and London-based UNDO came in as third-runner-up with a $5 million prize.

Since the announcement of the XPRIZE Carbon Removal competition, the Musk-led Department of Government Efficiency has cut climate funding for agencies, projects and research. While the Musk Foundation sponsored the XPRIZE event, it is not affiliated with the California-based organization, according to the Associated Press.

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A View From HETI

Cemvita has named a new leader in Brazil. Photo via cemvita.com

Houston industrial biotech company Cemvita has announced two strategic moves to advance its operations in Brazil.

The company, which utilizes synthetic biology to transform carbon emissions into valuable bio-based chemicals, acquired a complementary technology that expands its IP and execution of scale-up capacity, according to a news release. The acquisition will bring additional synthetic biology toolsets that Cemvita believes will assist with compressing and commercializing timelines.

The company also appointed Luciano Zamberlan as vice president of operations based in Brazil.

Zamberlan will lead operational execution, site readiness and early commissioning activities in Brazil. He brings more than 20 years of experience in biotechnology to the role. He recently served as director of engineering at Raízen, Brazil’s largest ethanol producer and the world’s largest producer of sugarcane ethanol. At Raízen, he coordinated the implementation of four greenfield plants and oversaw operational teams and process optimization for second-generation ethanol (E2G) and biogas.

“I am very pleased to join Cemvita, a company at the forefront of transforming waste into valuable, sustainable resources,” Zamberlan said in the release. “My expertise in scaling-up innovation, coupled with my experience in structuring and commissioning greenfield industrial operations, is perfectly aligned with Cemvita's mission and I'm eager to bring my energy and drive to accelerate Cemvita's industrial performance and contribute for a circular future.”

Cemvita expanded to Brazil in January to help capitalize on the country’s progressive regulatory framework, including Brazil’s Fuel of the Future Law, enacted in 2024. The law mandates an increase in the biodiesel content of diesel fuel, starting from 15 percent in March and increasing to 20 percent by 2030. It also requires the adoption of Sustainable Aviation Fuel (SAF) and for domestic flights to reduce greenhouse gas emissions by 1 percent starting in 2027, growing to 10 percent reduction by 2037.

“These steps enable us to augment Brazil’s longstanding bioindustrial ecosystem with next-generation capabilities, reducing early commercialization risk and expanding optionality for future product platforms,” Marcio Silva, CTO of Cemvita, said in the news release. “Together, they strengthen our ability to move from proof-of-concept to industrial reality.”

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