Elon Musk to offer US$100 million prize for best carbon capture tech Toggle share menu
Advertisement
Elon Musk to offer US$100 million prize for best carbon capture tech Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to promise a US$100 million prize for development of the best technology to capture carbon dioxide emissions.
FILE PHOTO: CEO of Tesla Motors Elon Musk reacts following the company s initial public offering at the NASDAQ market in New York June 29, 2010. REUTERS/Brendan McDermid/File Photo
22 Jan 2021 08:50PM Share this content
Bookmark
REUTERS: Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to promise a US$100 million prize for development of the best technology to capture carbon dioxide emissions.
Elon Musk announces $100 million prize for new technology
Reuters/New York
Photo: Reuters
Musk said the details related to his announcement will be revealed next week.
Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to promise a $100 million prize for development of the best technology to capture carbon dioxide emissions.
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.
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.
Elon Musk offers $100M prize for best carbon capture technology Autoblog 1/22/2021
The Mississippi Power Co. carbon capture plant in DeKalb, Miss. (AP)
Tesla Inc chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to promise a $100 million prize for development of the best technology to capture carbon dioxide emissions.
Capturing planet-warming carbon dioxide 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 from power generation and industry, rather than taking existing carbon out of the air.
Billionaire entrepreneur Elon Musk has offered up a $100million reward as a prize for the best carbon capture technology idea.
Carbon capture technology is a field of research which seeks to remove carbon dioxide, a key greenhouse gas, from the atmosphere.
It has been actively investigated for several years but very little progress has been made towards producing a viable method.
The announcement from Mr Musk comes days after US President Joe Biden signed an executive order announcing the US would rejoin the Paris Agreement and make the ongoing climate crisis and fossil fuel usage a priority of his administration.
Tesla chief and billionaire entrepreneur Elon Musk on Thursday took to Twitter to promise a $100 million prize for development of the “best” technology to capture carbon dioxide emissions.
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.
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.