Elon Musk Announces $100 Million Prize To Develop Carbon-Capture Technology

The CEO of Tesla and SpaceX, Elon Musk announced a prize for the one who will develop the carbon-capture technology. He set a $100 million prize for the winner. He took Twitter to make this announcement and will provide detail in the coming weeks.

“Am donating $100M towards a prize for best carbon capture technology,”

Musk tweeted.

Elon Musk Announces $100 Million Prize To Develop Carbon-Capture Technology

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Capturing planet-warming emissions is the latest phenomena to keep climate change in check. However, very little progress has been made in the technology to date. The work that has been done so far focused on cutting emissions rather than taking carbon out of the air.

The International Energy Agency said that the advancements in the deployment of carbon capture technology is needed if countries are to meet net-zero emissions targets.

In such circumstances, Musk’s proposal of developing carbon-capture technology will likely to play a major role in fighting climate change.

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

Check Also: Tesla’s Market Cap Decreases by $50 Billion Despite Musk’s Promise of Cheap Vehicles


Onsa Mustafa

Onsa is a Software Engineer and a tech blogger focuses on providing the latest information regarding the innovations happening in the IT world. She likes reading, photography, travelling and exploring nature. Contact: [email protected]
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