Richard Branson Launches $ 3 Million Next Generation Air Conditioner Competition

Currently, there are about 1.2 billion air conditioners in the world, and the most modern of them operate with only 14% efficiency. According to forecasts, as global warming intensifies, the number of air conditioner users will increase by another 3.3 billion by 2050, which in turn will catastrophically increase electricity consumption.

The Global Cooling Prize is designed to help stop rampant climate change. With the support of the Government of India, renowned British entrepreneur Richard Branson and other partners, a competition has been announced for the creation of efficient energy-saving cooling technologies. Branson was entrusted to represent the project. The winners will share a prize pool of $ 3 million.

Participants in the competition must develop a technology for air cooling of residential premises, which has a lower negative impact on the climate in comparison with the current ones, at least five times. At the same time, a new air conditioner can cost no more than 2 times more expensive than existing ones. Its optimal characteristics: power - no more than 700 W, the amount of water consumed - no more than 14 liters per day.

Applications from participants in the form of the main idea are accepted from the beginning of November 2018 to June 2019. Then, by August, it is necessary to present a detailed technical justification for the idea. After project evaluations, 10 finalists will be paid $ 200, 000 to create a working prototype to be manufactured by November. The winner will receive $ 1 million in November-December 2020.