XPRIZE released its fifth annual Circular Carbon Market Report analyzing 2024 investment and growth trends of this emerging industry. Almost $28B has been invested in the Circular Carbon space cumulatively to date, with $6.6B in 2024.
At this important moment, mid-decade and only five short years away from 2030 net-zero goals, we look at the critical path for the Circular Carbon industry. This capstone report is intended to provide leaders across the industry and beyond with useful data and insights that have been informed by XPRIZE’s decade of work in the space, first with the NRG COSIA Carbon XPRIZE (2015-2021) and followed by the XPRIZE Carbon Removal (2021-2025). We dive into the history of Circular Carbon, looking at the key inflection points that have driven its growth, and provide useful data and insights that can be applied to accelerate the continued scale up of the Circular Carbon Economy and the achievement of our climate goals.
The report is an effort of the Circular Carbon Network (CCN), an initiative of XPRIZE, that has been collecting primary market data on over 1000 companies spanning carbon removal, carbon conversion, point source capture, and market infrastructure since 2018.