Elon Musk announces $100 million prize for this new tech

Elon Musk announces a $ 100 million award for this new technology

Tech News: Elon Musk announces $100 million prize for this new tech.

Things We Already Know: The world is heating up due to the human drive to burn fossil fuels. Elon Musk is currently the richest person on the planet. But for one of the richest people on the planet, Musk’s philanthropic history over the years is paltry when compared to that of Jeff Bezos. So, yes, Thursday was a surprise when Tesla’s CEO made the decision Twitter to announce that it intends to donate $ 100 million as a prize for a winning carbon capture system.

Details on Musk’s upcoming carbon capture contest have not yet been released, but are expected “next week”. This is not the first time that a company has used public help for carbon capture technology, which seeks to exploit this element. from the atmosphere and squirrel away to help slow the pace of human-caused climate change.

In 2018, X-Prize held a similar competition and awarded five finalist teams a share of the $ 20 million. But with $ 100 million up for grabs, Musk’s contest will not only offer five times the amount of X-Prize money, it will also be his largest philanthropic investment to date (ten times the amount of his second donations. largest to date).

Of course, this is far from the first attempt to capture CO2 from the atmosphere and convert it into consumer products. The EFPL recently developed a capture system for semi-finished products that converts 90% of vehicle emissions into liquid CO2, Oxford researchers have found a way to convert it to jet fuel, while others have turned greenhouse gases into diamonds.