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Elon Musk Announces $100 Million Prize to whoever creates the best carbon-capture technology

Elon Musk Announces $100 Million Prize to whoever creates the best carbon-capture technology

It doesn’t matter if you are a believer in climate change or not. But at some point, we all believe that carbon dioxide emission is a major concern, especially with this booming automobile industry. And all the great minds are worried about that. Talking about great minds, how to forget Elon musk, and his tweets. Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to promise a $100 million prize for the development of the “best” technology to capture carbon dioxide emissions.

“Am donating $100M towards a prize for best carbon capture technology,” Musk tweeted, adding that he would provide “details next week.”

Capturing planet-warming emissions is becoming a critical part of many plans to keep climate change in check, but very little progress has been made on the technology to date, with efforts focused on cutting emissions rather than taking carbon out of the air.

In 2012, Musk signed the Giving Pledge, an initiative launched by Bill Gates and Warren Buffett that asks signatories to donate at least half of their wealth within their lifetime. He has primarily donated toward science and engineering education, renewable-energy research, pediatric research, and research into human space exploration.

But an estimate by Forbes in September found that Musk had donated just $100 million – less than 1% of his net worth, which consists mostly of stock in his companies.

Still, Musk’s proposed carbon-capture contest would go toward a cause that is likely to play a major role in fighting climate change.

But remember his own words.

“Critical feedback is always super appreciated, as well as ways to donate money that really make a difference (way harder than it seems),” Musk tweeted earlier this month.

The International Energy Agency said late last year that a sharp rise in the deployment of carbon capture technology was needed if countries are to meet net-zero emissions targets.

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About The Author

Aanchal Sharma

PG student at IIRS,ISRO Dehradun | Space Enthusiast | Engineer | Writer | Sci-fi fan

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