To meet the estimated 6–10 GtCO₂ of carbon dioxide removal (CDR) that will be needed annually by 2050, the industry will need to scale by orders of magnitude, requiring significant cost cutting measures. 

Authored in collaboration with BCG, this report analyzes data from the 20 XPRIZE Carbon Removal Finalists. Selected from more than 1,300 competitors, the 20 Finalists offer real world insights into how leading carbon removal companies plan to grow from kilotonne to megatonne-scale projects in the next 5-10 years. Despite the wide variety of technologies that can be employed for CDR, the diverse cohort of Finalists shared a common set of strategies to expand capacity and drive down costs. This report profiles five distinct cost cutting levers to accelerate growth: future technology advancement, scaling, modularity, process optimization, and alternative revenue streams. It also dives into seven external factors that influence cost and scalability: financing, supply chains, logistics, energy, labor, water, and land. This report provides a unique view into how CDR companies plan to tackle the cost reduction challenge and highlights lessons on how CDR can move from science to commercialization.