SHENZHEN, China, Oct. 29, 2025 /PRNewswire/ — Tencent (0700.HK) today announced the top 50 finalists, coming from 12 countries and regions around the world, for its CarbonX Program 2.0 (CarbonX 2.0), a landmark initiative to accelerate next generation climate technologies and the essential capabilities needed for a net-zero world by 2050.
These innovators, selected from more than 660 applicants across 54 countries and regions, are competing for a share of RMB200 million (approximately US$28 million) in catalytic funding. Winners will also receive technical resources, expert mentorship, and opportunities to pilot their solutions in real-world environments, including in climate vulnerable regions such as Kenya, the Maldives, and Serbia.
Bridging the “Valley of Death” in Climate Innovation
The path from breakthrough discovery to real-world impact is often blocked by what experts call the ‘Valley of Death’ – the critical gap between early-stage innovation and large-scale deployment. Many climate technologies fail to progress due to limited funding, partnerships, and testing environments.
The CarbonX Program was created to close this gap. It does this by building a global ecosystem where scientists, engineers, entrepreneurs, investors, and industry leaders work together to accelerate the scaling of climate solutions, offering comprehensive support beyond mere financing.
“The climate crisis is the defining challenge of our time and tackling it demands both bold innovation and collective action across the global ecosystem,” said Davis Lin, Senior Vice President of Tencent. “With CarbonX, we are not only investing in groundbreaking ideas, but also creating the pathways to turn them into real-world solutions. By bridging the gap between research and deployment, we aim to accelerate technologies that can store, transform, and reduce CO₂ emissions at scale, laying the foundation for a truly low-carbon future.”
Scaling Climate Innovation Across Borders
Building on the success of its inaugural program focused on China, CarbonX 2.0 has expanded globally to identify and support promising early-stage climate technologies. The 50 finalists represent a diverse mix of universities, research institutes, and startups working at the forefront of four key areas:
- Carbon Dioxide Removal (CDR): Supporting pilots in Kenya to accelerate scalable, cost-effective solutions for permanently removing historic CO₂ emissions, with the potential to reduce direct air capture (DAC) costs substantially.
- Industrial Decarbonization (CCUS for Steel): Advancing breakthrough approaches to reduce lifecycle emissions in steel production with pilots in Serbia. The focus is on developing cost-effective and scalable industrial carbon capture, utilization, and storage (CCUS) solutions for hard-to-abate industries.
- Carbon Capture and Utilization (CarbonXmade): Transforming captured carbon into chemicals, and ultimately into consumer products. This creates a circular value chain that turns waste into consumer goods, with early market adoption supported by brand premiums in China.
- Long-Duration Energy Storage (LDES): Providing real-world scenarios in the Maldives to refine and validate emerging technologies, to meet the growing demands of renewable energy expansion – with flow batteries showing strong promise for commercially viable, long-duration storage.
In early 2026, a global panel of multi-disciplinary experts will evaluate and select the winning teams to receive grants and other resources to pilot their technologies in those regions and create measurable impact.
CarbonX Summit 2025: Inspiring Collective Action
The announcement was made at the CarbonX Summit 2025 in Shenzhen, a convening of finalist teams and leaders from business, academia, and policy to explore how innovation ecosystems can accelerate climate action globally. The Summit spotlighted the role of catalytic finance, inclusive deployment, and multilateral collaboration in achieving the Paris Agreement targets.
“Sustainability can only be achieved through innovation,” said Hao Xu, Head of Climate Innovation at Tencent. “By supporting the world’s brightest climate entrepreneurs, we aim to harness technology as a force for good — addressing one of humanity’s most urgent challenges while creating shared value for future generations.”
For more information about CarbonX 2.0, please visit the program website.
Appendix: List of Top 50 Finalists of CarbonX Program 2.0 https://static.www.tencent.com/attachments/ssv/2025/CarbonX%202.0%20Finalists.pdf
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