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Elon Musk, founder and chairman of Tesla, said he plans to donate $ 100 million as a prize to develop the best carbon capture technology.
Musk revealed the value of the award Thursday via Twitter, saying he would reveal details next week, and said, “I’m giving away $ 100 million in awards to develop the best carbon capture technology.”
Capturing greenhouse gas emissions has become an important part of many plans to keep climate change under control, but very little progress has been made in this technology so far, with efforts focused on reducing emissions rather than removing carbon from the air.
I donate $ 100 million for an award for best carbon capture technology
– Elon Musk (@elonmusk) January 21, 2021
The International Energy Agency said late last year that a sharp increase in the deployment of carbon capture technology was needed if countries were to meet zero-emission targets.
Musk, who co-founded and sold online payments company PayPal Holdings Inc, now runs some of the world’s largest companies.
Alongside Tesla, he runs SpaceX and Neuralink, a startup that develops interfaces and a high-speed machine to connect the human brain to computers.
New US President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his comprehensive plan to fight climate change. On Thursday, Jennifer Wilcox, an expert in decarbonization technologies, appointed her deputy principal secretary for energy.
Musk, born in South Africa, is now worth $ 201.4 billion, according to the Bloomberg Richie Index.
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