Elon Musk Offers $100M Prize for Carbon-Capture Tech Contest

Elon Musk has climate change on his mind. The billionaire entrepreneur just announced a $ 100 million donation to a competition aimed at creating the best carbon capture technology.

The head of Tesla and SpaceX announced the award in a post to its 42 million Twitter followers on Thursday, January 21, adding that more details will be announced next week.

“I’m donating $ 100 million for an award for the best carbon capture technology,” Musk said in the tweet.

Details next week

– Elon Musk (@elonmusk) January 21, 2021

With climate change under increasing pressure on natural resources and human and animal habitats, scientists say time is running out to change things.

Many governments finally seem to be waking up to the idea that serious work needs to be done to reduce carbon emissions, and a growing number of environmental organizations are also working towards the same goal.

Carbon capture is part of the effort. The technology prevents carbon dioxide produced by factories and power plants from entering the earth’s atmosphere and further damaging the temperature of the planet.

Solvent filters are a solution where the captured emissions can be stored underground or used for purposes such as improved soil reclamation and the manufacture of fuels and building materials. According to the Center for Climate and Energy Solutions, there are currently more than 20 commercial-scale carbon sequestration projects in operation around the world and another 22 are in development.

TerraPass, a San Francisco-based social company that provides carbon offsetting products to individuals and businesses, describes Musk as “without a doubt one of the most well-known drivers of climate change today,” adding that “one reason why Reach is its ability to grab people’s attention … and often it is focused on the environment. “

In a 2018 interview, Musk said the continued use of fossil fuels on the planet was “a crazy experiment” and called for greater use of sustainable energy sources. “We’re really playing a crazy game with the atmosphere and the oceans,” Musk said in an interview.

Musk is not averse to announcing the occasional contest after previously doing so for pet projects like Hyperloop, an ultra-high-speed transportation system that uses a vacuum to haul passenger pods through pipes above or below the ground at speeds of up to 1,223 km / h. Numerous Hyperloop competitions have encouraged engineers to create designs for the pods that people carry through the tubes.

Check back next week for more information on Musk’s upcoming carbon capture technology competition.

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