Elon Musk will offer a $ 100 million prize for “best” carbon capture technology

Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to pledge a $ 100 million award for developing the “best” technology for capturing carbon dioxide emissions. Capturing global warming emissions is becoming a key part of many plans to keep climate change in check, but very little progress has been made on technology to date, with efforts focused on reducing emissions rather than eliminating carbon. from the air.

The International Energy Agency said late last year that a large increase in the use of carbon capture technology is needed if countries are to meet net zero emissions targets. “I’m donating $ 100 million to a prize for the best carbon capture technology,” Musk wrote in a tweet, followed by a second tweet promising “Details next week”.

Tesla officials did not immediately respond to a request for additional information. Musk, who co-founded and sold internet payment company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.

In addition to Tesla, he heads the space company SpaceX and Neuralink, a startup that is developing ultra-high-bandwidth brain-machine interfaces to connect the human brain to computers. Newly-sworn US President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his broad plan to tackle climate change. On Thursday it appointed Jennifer Wilcox, an expert in carbon removal technologies, as the principal deputy assistant secretary for fossil energy in the United States Department of Energy.

(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)

News Highlights:

  • Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to pledge a $ 100 million award for developing the “best” technology for capturing carbon dioxide emissions. Newly-sworn US President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his broad plan to tackle climate change.
  • Elon Musk will offer a $ 100 million prize for “best” carbon capture technology