Tencent's CarbonX 2.0 Program Announces 50 Global Finalists for Climate Solutions
Tencent recently announced the selection of 50 finalists in its CarbonX 2.0 initiative, aimed at propelling advancements in climate technology. These finalists, sourced from 12 countries and regions, were chosen from over 660 applicants representing 54 nations, highlighting the program's global reach and significance. The CarbonX 2.0 initiative is a crucial step towards realizing the ambitious target of net-zero emissions by 2050, aligning with global climate goals.
The finalists, who now have the opportunity to compete for a share of 200 million RMB (approximately 28 million USD) in catalyst funding, will also benefit from technical resources, expert mentorship, and real-world testing opportunities in areas vulnerable to climate change, such as Kenya, the Maldives, and Serbia. This multifaceted support is designed to facilitate the practical implementation of groundbreaking projects that could significantly impact our climate.
A primary challenge in the realm of climate innovation is often referred to as the 'Valley of Death,' the gap that exists between initial discovery and widescale implementation. Many promising climate technologies fail to advance beyond the conceptual stage due to a shortage of funding, partnerships, and testing environments. The CarbonX program aims to bridge this gap by fostering a global ecosystem that encourages collaboration among scientists, engineers, innovators, investors, and industry leaders to speed up the rollout of climate solutions.
Davis Lin, Tencent's Senior Vice President, emphasized the importance of collective action in addressing climate challenges, stating, "The climate crisis is the defining challenge of our time, and tackling it requires bold innovation alongside collective efforts across the global ecosystem. With CarbonX, we're investing not just in revolutionary ideas but also creating pathways to turn them into real solutions. By closing the gap between research and implementation, we aim to accelerate the development of technologies capable of storing, transforming, and reducing CO₂ emissions on a large scale, laying the groundwork for a truly low-carbon future."
The inaugural phase of CarbonX was focused on China, but with CarbonX 2.0, Tencent has expanded its reach to identify and support promising climate technologies at the early stages globally. The finalists are actively engaged in four key areas:
1. Carbon Dioxide Removal (CDR): Supporting pilot projects in Kenya to accelerate scalable and cost-effective solutions for permanently removing historical CO₂ emissions, potentially lowering direct air capture costs.
2. Industrial Decarbonization (CCUS in Steel Production): Promoting innovative approaches to reduce emissions throughout the steel production cycle through pilot projects in Serbia, aiming to develop economical and scalable carbon capture, utilization, and storage (CCUS) solutions for hard-to-decarbonize industries.
3. Carbon Capture and Utilization (CarbonXmade): Transforming captured carbon into chemicals and ultimately consumer products, creating a circular value chain that converts waste into consumables, with early market adoption driven by premium brands in China.
4. Long-Duration Energy Storage (LDES): Providing real-world scenarios in the Maldives to refine and validate emerging technologies capable of meeting the increasing demands for renewable energy expansion, such as flow batteries that show promise for commercially viable and long-lasting storage.
In early 2026, a global interdisciplinary panel will evaluate and select the winning teams, which will then receive grants and additional resources to implement their technologies in relevant regions and create measurable impacts.
The announcement of these finalists coincided with the CarbonX 2025 Summit held in Shenzhen, where finalist teams and leaders from the business, academic, and political sectors gathered to explore how innovation ecosystems can accelerate climate action globally. The summit underscored the critical role of catalytic funding, inclusive deployment, and multilateral collaboration in achieving the targets of the Paris Agreement.
Hao Xu, Tencent's Director of Climate Innovation, noted, "Sustainability is only possible through innovation. By supporting the world's brightest climate entrepreneurs, we are harnessing technology as a force for good, addressing one of humanity’s most urgent challenges while creating shared value for future generations."
For more details about CarbonX 2.0, you can visit the official program website. An appendix listing the 50 finalists is also available as a PDF for those interested in specific projects and teams involved in this groundbreaking initiative.
The finalists, who now have the opportunity to compete for a share of 200 million RMB (approximately 28 million USD) in catalyst funding, will also benefit from technical resources, expert mentorship, and real-world testing opportunities in areas vulnerable to climate change, such as Kenya, the Maldives, and Serbia. This multifaceted support is designed to facilitate the practical implementation of groundbreaking projects that could significantly impact our climate.
A primary challenge in the realm of climate innovation is often referred to as the 'Valley of Death,' the gap that exists between initial discovery and widescale implementation. Many promising climate technologies fail to advance beyond the conceptual stage due to a shortage of funding, partnerships, and testing environments. The CarbonX program aims to bridge this gap by fostering a global ecosystem that encourages collaboration among scientists, engineers, innovators, investors, and industry leaders to speed up the rollout of climate solutions.
Davis Lin, Tencent's Senior Vice President, emphasized the importance of collective action in addressing climate challenges, stating, "The climate crisis is the defining challenge of our time, and tackling it requires bold innovation alongside collective efforts across the global ecosystem. With CarbonX, we're investing not just in revolutionary ideas but also creating pathways to turn them into real solutions. By closing the gap between research and implementation, we aim to accelerate the development of technologies capable of storing, transforming, and reducing CO₂ emissions on a large scale, laying the groundwork for a truly low-carbon future."
The inaugural phase of CarbonX was focused on China, but with CarbonX 2.0, Tencent has expanded its reach to identify and support promising climate technologies at the early stages globally. The finalists are actively engaged in four key areas:
1. Carbon Dioxide Removal (CDR): Supporting pilot projects in Kenya to accelerate scalable and cost-effective solutions for permanently removing historical CO₂ emissions, potentially lowering direct air capture costs.
2. Industrial Decarbonization (CCUS in Steel Production): Promoting innovative approaches to reduce emissions throughout the steel production cycle through pilot projects in Serbia, aiming to develop economical and scalable carbon capture, utilization, and storage (CCUS) solutions for hard-to-decarbonize industries.
3. Carbon Capture and Utilization (CarbonXmade): Transforming captured carbon into chemicals and ultimately consumer products, creating a circular value chain that converts waste into consumables, with early market adoption driven by premium brands in China.
4. Long-Duration Energy Storage (LDES): Providing real-world scenarios in the Maldives to refine and validate emerging technologies capable of meeting the increasing demands for renewable energy expansion, such as flow batteries that show promise for commercially viable and long-lasting storage.
In early 2026, a global interdisciplinary panel will evaluate and select the winning teams, which will then receive grants and additional resources to implement their technologies in relevant regions and create measurable impacts.
The announcement of these finalists coincided with the CarbonX 2025 Summit held in Shenzhen, where finalist teams and leaders from the business, academic, and political sectors gathered to explore how innovation ecosystems can accelerate climate action globally. The summit underscored the critical role of catalytic funding, inclusive deployment, and multilateral collaboration in achieving the targets of the Paris Agreement.
Hao Xu, Tencent's Director of Climate Innovation, noted, "Sustainability is only possible through innovation. By supporting the world's brightest climate entrepreneurs, we are harnessing technology as a force for good, addressing one of humanity’s most urgent challenges while creating shared value for future generations."
For more details about CarbonX 2.0, you can visit the official program website. An appendix listing the 50 finalists is also available as a PDF for those interested in specific projects and teams involved in this groundbreaking initiative.
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