September 29, 2015

The Canadian Oil Sands Innovation Alliance (COSIA) – of which Nexen is a founding member – is partnering with NRG Energy in the U.S. to sponsor the NRG / COSIA Carbon X Prize, a global competition seeking innovative ways to capture carbon dioxide (CO2) from flue gas and turn it into useful products. The competition launch was announced Sept. 29 in New York City.

COSIA believes that turning CO2 emissions into valuable products is a relatively new area of technology that should be encouraged. In addition, this high-profile X Prize competition is expected to attract a large number of innovators and will also publically confirm the oil sands industry’s commitment to ongoing technology improvement and environmental responsibility.

Nexen has been a leader in the development of the prize since 2013 and is one of eight companies currently funding the X Prize as a COSIA project.

For more information, visit carbon.xprize.org or cosia.ca.