New Zealand company makes short list in Climate Change Challenge

New Zealand charcoal technology company Carbonscape is one of only five companies to make the short list in a global competition, the FT (Financial Times UK) Climate Change Challenge.

The competition seeks the most exciting innovations and practical ideas to reduce carbon emissions and make the world more resilient to the climate change ahead.

The winner, to be chosen by Financial Times readers and a panel of global business leaders, innovators and climate change experts, including Sir Richard Branson, will receive a US$75,000 prize, sponsored by Hewlett-Packard, to help bring their service to market. The contest is also sponsored by sustainable development organisation Forum for the Future.

The short list will be presented to the Financial Times’ worldwide business audience and they will be asked to vote for the best entrant at: www.ft.com/climatechallenge.

The winner of the contest will be announced in April 2009.

The most widely discussed method to sequester carbon gases involves injecting compressed carbon dioxide into the earth’s crust. Carbonscape is trying an alternative approach by developing an industrial microwave charcoal technology that sucks carbon dioxide from the atmosphere, helping mitigate the impact of global warming.

Carbonscape’s solution focuses on making charcoal, effectively and safely locking the greenhouse gases away for thousands of years.