Tencent Unveils 50 Innovative Finalists in CarbonX Program 2.0 for Climate Solutions
In a significant move towards addressing the climate crisis, Tencent has announced the finalists for its CarbonX Program 2.0, a global initiative aimed at promoting innovative solutions for climate challenges. The program, which received over 660 applications from 54 countries, has shortlisted 50 finalists from 12 different countries and regions. These innovators will compete for a share of approximately USD 28 million in funding, along with valuable technical resources and expert mentorship, as they work towards developing scalable climate technologies.
The CarbonX Program aims to bridge the 'Valley of Death' in climate innovation – a term describing the critical phase where promising discoveries struggle to transition to real-world applications due to funding and resource constraints. By establishing a collaborative global ecosystem, Tencent encourages scientists, engineers, startups, and industry leaders to come together to accelerate the deployment of climate solutions beyond mere financing.
"The climate crisis is arguably the most pressing challenge of our time, necessitating innovative solutions and concerted action across various sectors," said Davis Lin, Senior Vice President of Tencent. He emphasized the need for both investment in groundbreaking ideas and the creation of pathways to implement these ideas effectively in the real world.
The 50 finalists encompass diverse backgrounds including universities, research institutions, and startups focused on four key areas of climate innovation:
1. Carbon Dioxide Removal (CDR): Several finalists will initiate projects in Kenya to develop scalable solutions for permanently removing CO₂ emissions, which could significantly reduce costs associated with direct air capture technologies.
2. Industrial Decarbonization (CCUS for Steel): Special focus is placed on innovations aimed at reducing emissions in the steel production process through carbon capture, utilization, and storage (CCUS), with pilot projects planned in Serbia.
3. Carbon Capture and Utilization (CarbonXmade): This category targets technologies that convert captured carbon into chemicals and consumer products, creating a circular economy that turns waste into value-added goods.
4. Long-Duration Energy Storage (LDES): Innovations in energy storage will be piloted in the Maldives, focusing on flow batteries that promise commercial viability for long-duration storage of renewable energy.
In early 2026, a global jury of experts will review and select winning projects that will receive grants and other necessary resources to advance their technologies. These selected initiatives are not only intended to strengthen the innovations themselves but also aim to create measurable impacts in climate-vulnerable regions.
Tencent showcased this initiative during the CarbonX Summit 2025 held in Shenzhen, which gathered teams and leaders from various industries to discuss the role of innovation in climate action. The summit highlighted the importance of catalytic finance, inclusive deployment, and cross-border collaboration necessary for achieving global climate goals outlined in the Paris Agreement.
Hao Xu, Head of Climate Innovation at Tencent, remarked on the intersection of sustainability and innovation, stating, "We must capitalize on technology to address one of humanity’s greatest challenges and generate shared value for generations to come."
For further details on the finalists and program results, visit Tencent's official CarbonX 2.0 program website.
Background of CarbonX Program 2.0
The CarbonX Program aims to bridge the 'Valley of Death' in climate innovation – a term describing the critical phase where promising discoveries struggle to transition to real-world applications due to funding and resource constraints. By establishing a collaborative global ecosystem, Tencent encourages scientists, engineers, startups, and industry leaders to come together to accelerate the deployment of climate solutions beyond mere financing.
"The climate crisis is arguably the most pressing challenge of our time, necessitating innovative solutions and concerted action across various sectors," said Davis Lin, Senior Vice President of Tencent. He emphasized the need for both investment in groundbreaking ideas and the creation of pathways to implement these ideas effectively in the real world.
Key Focus Areas for the Finalists
The 50 finalists encompass diverse backgrounds including universities, research institutions, and startups focused on four key areas of climate innovation:
1. Carbon Dioxide Removal (CDR): Several finalists will initiate projects in Kenya to develop scalable solutions for permanently removing CO₂ emissions, which could significantly reduce costs associated with direct air capture technologies.
2. Industrial Decarbonization (CCUS for Steel): Special focus is placed on innovations aimed at reducing emissions in the steel production process through carbon capture, utilization, and storage (CCUS), with pilot projects planned in Serbia.
3. Carbon Capture and Utilization (CarbonXmade): This category targets technologies that convert captured carbon into chemicals and consumer products, creating a circular economy that turns waste into value-added goods.
4. Long-Duration Energy Storage (LDES): Innovations in energy storage will be piloted in the Maldives, focusing on flow batteries that promise commercial viability for long-duration storage of renewable energy.
Future Evaluations and Impact
In early 2026, a global jury of experts will review and select winning projects that will receive grants and other necessary resources to advance their technologies. These selected initiatives are not only intended to strengthen the innovations themselves but also aim to create measurable impacts in climate-vulnerable regions.
The CarbonX Summit 2025
Tencent showcased this initiative during the CarbonX Summit 2025 held in Shenzhen, which gathered teams and leaders from various industries to discuss the role of innovation in climate action. The summit highlighted the importance of catalytic finance, inclusive deployment, and cross-border collaboration necessary for achieving global climate goals outlined in the Paris Agreement.
Hao Xu, Head of Climate Innovation at Tencent, remarked on the intersection of sustainability and innovation, stating, "We must capitalize on technology to address one of humanity’s greatest challenges and generate shared value for generations to come."
For further details on the finalists and program results, visit Tencent's official CarbonX 2.0 program website.
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