Tencent's CarbonX: Supercharging Climate Tech Innovation
The climate crisis is demanding unprecedented technological leaps from society’s brightest scientists.
The team from Tencent, one of China's largest tech companies, is placing its considerable technological muscle behind a global hunt for transformative carbon solutions.
Tencent is planning to expand its CarbonX programme to unearth the breakthrough innovations that could rewrite our planetary trajectory.
The programme, which previously focused on China-based projects, is now expanding its reach to support innovative solutions worldwide, with a special focus on energy storage and carbon capture.
Addressing the innovation gap
So, what exactly is Tencent's CarbonX programme?
Essentially, it seeks to address a significant challenge in the fight against climate change: the fact that 75% of solutions needed for decarbonisation rely on technologies that are not yet fully mature.
Dr Hao Xu, Tencent's Vice President of Sustainable Social Value, says: "Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality.
“Our CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future."
Society is demanding solutions today, not tomorrow. A project like this could be the forward thinking solution the world needs in the fight against climate change.
Key focus areas
The programme will invest tens of millions of dollars to support early-stage technologies in four key areas:
- Carbon Dioxide Removal (CDR): Focusing on technology-based solutions for extracting historic emissions from the atmosphere, with pilot projects planned in Kenya.
- Long-Duration Energy Storage (LDES): Developing methods to increase renewable energy in power grids, with 100-kilowatt pilot projects set for the Maldives.
- Carbon Capture, Utilisation & Storage (CCUS) for the Steel Industry: Advancing next-generation point-source carbon capture, utilisation and storage (CCUS) technologies for the hard-to-abate steel sector, with pilot projects in Serbia.
- CarbonXmade (CCU): Integrating captured carbon into chemical production and consumer products through a dedicated consortium.
Collaborating with leaders around the world
CarbonX 2.0 has assembled an impressive network of partners across various sectors.
Industry collaborators include China Resources, Conch Cement and HBIS Group, while consumer product partners such as McDonald's China, PepsiCo and Unilever have joined the CarbonXmade consortium.
The programme has also secured support from investment partners like Africa Climate Ventures and Lightspeed China Partners, as well as ecosystem partners including the African Development Bank and the Global CCS Institute.
Davis Lin, Senior Vice President of Tencent, highlights the programme's global ambitions: "With the second iteration, we're aiming to foster an international ecosystem that accelerates progress toward net zero."
Application process and timeline
The programme is now accepting proposals from participants worldwide, including early-stage start-ups, established companies and academic institutions.
The selection process will occur in two phases, with the first shortlisting 10 to 15 teams per demonstration scenario by September 2025, and the second selecting one to three winning teams per scenario by February 2026.
Professor Jerry Yan, Co-Chairman of the CarbonX Expert Committee, stresses the importance of this approach.
"Addressing climate change demands scaling solutions that are not bound by specific technologies but driven by their potential to make a global impact,” he says.
“We need to accelerate innovation by fostering cross-sector and cross-region collaboration, while catalysing the deployment of every viable solution to ensure they evolve and scale in line with our climate goals."
Impact and expectations
All in all, CarbonX represents a rather huge step in Tencent's commitment to driving sustainable innovation.
By providing financial support, resources and industry connections, the initiative could bridge the gap between promising technologies and real-world applications.
"Our ultimate goal is supporting these cutting-edge technologies in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net zero emissions by 2050,” says Hao.
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