Musk said the details of his announcement would be revealed next week.
Elon Musk, CEO and billionaire of Tesla Inc, promised a $ 100 million prize on Twitter on Thursday for developing the “best” technology for capturing carbon dioxide emissions.
Tracking emissions that are causing the planet to warm is becoming a critical part of many plans to keep climate change in check. However, very little progress has been made in technology to date. Efforts have focused on reducing emissions rather than removing carbon from the air.
The International Energy Agency said late last year that a sharp increase in the use of carbon capture technology would be needed if countries are to meet net-zero emissions targets.
“I’m donating $ 100 million for an award for the best carbon capture technology,” Musk wrote in a tweet, followed by a second tweet promising “details next week.”
I’m donating $ 100 million for an award for the best carbon capture technology
– Elon Musk (@elonmusk) January 21, 2021
Tesla officials did not immediately respond to a request for additional information.
Musk, co-founder and seller of Internet payment company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.
In addition to Tesla, he heads the rocket companies SpaceX and Neuralink, a startup that develops ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.
Newly sworn in US President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his comprehensive plan to combat climate change. On Thursday, he named Jennifer Wilcox, an expert on carbon removal technologies, as assistant chief secretary for fossil fuels in the US Department of Energy.
