October 17, 2016
Pond Technologies has been selected today as one of the 27 semi-finalists for the $20 million NRG COSIA Carbon X-Prize. The X-Prize Foundation is an innovation engine, a facilitator of exponential change, and a catalyst for the benefit of humanity, and runs global competitions to develop cutting edge technologies.
The NRG COSIA Carbon X-Prize is a global $20 million competition to transform carbon dioxide emissions into useful products, sponsored by NRG Energy and the Canadian Oilsands Innovation Alliance (COSIA). The purpose of this competition, essentially, is to solve the problem of industrial greenhouse gas emissions.
With Pond Technologies as the lead, Markham District Energy, the National Research Council of Canada and the City of Markham teamed up to enter the Carbon X-Prize competition, along with 47 other teams from 7 different countries.
The technology being tested as part of the X-Prize competition will be applied to Markham District Energy’s thermal energy systems to reduce their carbon dioxide emissions to virtually zero, while producing biodiesel to fuel Markham fleets and biomass pellets to provide district heating, helping the City of Markham achieve its goal of being a zero emission city by 2050.