Competition timeline and prize purse

DavidPoli

Competing teams will demonstrate a green energy carrier lifecycle that is sustainable, cost-effective, and efficient at scale. One of the core promises of energy carriers in helping decarbonization is their flexibility for transfer, storage, and use.

1. Please look at the current draft of a competition outline.
a) How long should be given for solution development before each testing phase?
b) What prize purse will incentivize innovators?
c) Do you have testing partner suggestions?

Shashi

Hi @Jesse_Nyokabi, @AnthonyMburu, @anis, @Febbie, @grhoffman7, @adventureashr, @erinnvw, @mikelandmeier, @SonyaD, @lauramatrax, @mgraffg, @cananacar, @Cemalbasaran, @curranc, @Spacearch, @pjaffeva, @nyirendalevy, @Irina, @X3EM, @Wangari, @Access600, @Simon, @Mahmoudburai - As per the competition outline provided in this discussion, how much time should be given to innovators for solution development before semifinal and finals? also what should be the ideal prize money that would get innovators excited to participate in this competition? If you have any suggestion on testing partners for this competition, please share it with us. Thanks.

Shashi

Hi @akb, @agval, @rayw, @b0bbybaldi, @carlbozzuto, @KeithDPatch, @Magneto, @gyyang - We would love to hear your thoughts on Ideal prize money to incentivize innovators and timeline for solution development before semifinal and finals. Also, If you have any suggestion on testing partners for this competition, please share it with us. Thanks.

rayw

Hi Shashi, H2 Corp Ltd is based in the UK and our Partners Gaia Projects Ltd are based in Germany but our R&D centre is in Bangkok, Thailand. Covid 19 has caused our management and staff enormous travel problems these past 15 months with lockdowns and arrivals isolation at both ends of each trip. However our most difficult position is that we have received an investment offer from a major USA Bank involving $50 Million investment for establishing our primary manufacturing centre and a $1 Billion line of credit for the production and delivery of our Container based hydrogen production to electricity solutions which the Bank wishes to purchase from us for installation at their worldwide premises. Regrettably I cannot see us overcoming the current travel restrictions for most of the rest of this year so we are left with little alternative but to withdraw from a competition where the organisers are unclear as to the prize(s) they are offering. I think all parties are participating here for money to deliver on their projects and XPrize.org needs to specify the Prize they are offering. A simple rosette with 1st Prize on it is not going to get anyone excited.

Shashi

Hi @rayw,

As of now XPRIZE is just designing the competition and seeking your inputs on what could be an ideal prize purse for this competition. In many cases XPRIZEs does have multiple prizes/milestone prizes as well. Once we finalize designing the competition, you can have more details on it. Thanks.

rayw

Hi Shashi, To make an impact on Net Zero by 2050 requires a scale of operation that probably replicates the Oil & Gas industry investment to date. Clearly the XPRIZE PURSE will be totally unable to support such a level of investment across all suppliers of components that will meet the areas of Hydrogen, including Production and storage Cylinders, Fuel cells for deliveries of electricity, Residential systems together with local electricity storage panels, Forecourt gas and electricity energy delivery systems, ship loading, transportation of compressed gas plus decompression on arrival port. Then there is EV hydrogen and electrical propulsion systems and Industrial energy systems. The list of new and expansion of existing industries is extensive and the above is just part of what will be needed. I recently heard a VP of Shell Petroleum inform an audience that it will cost around $15 Trillion a year investment between now and 2050, so even a $20 Million XPRIZE is a drop in the ocean. Maybe five Billionaires can be persuaded to each invest $1 Billion to kick-start the necessary changes required to improve the air quality of our planet... but I doubt they would do so.. Climate Change will propel the Fifth global industrial revolution. The current XPrize company submissions are probably all going to be needed to meet the objective of net zero, so a grand centre showcasing all their products, systems and skills could become the go-to magnet for all countries interested in signing to meet Net Zero by 2050 pledge.