Elon Musk to offer $100 mln prize for 'best' carbon capture tech

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. Newly-sworn-in U.S. President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his sweeping plan to tackle climate change.

Reuters | Washington DC | Updated: 22-01-2021 12:48 IST | Created: 22-01-2021 06:05 IST
Elon Musk to offer $100 mln prize for 'best' carbon capture tech
Image Credit: Flickr

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. "Am donating $100M towards a prize for best carbon capture technology," Musk wrote in a tweet, followed by a second tweet that promised "Details next week."

Tesla officials did not immediately respond to a request for additional information. Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.

Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers. Newly-sworn-in U.S. President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his sweeping plan to tackle climate change. On Thursday, he named Jennifer Wilcox, an expert in carbon removal technologies, as the principal deputy assistant secretary for fossil energy at the U.S. Department of Energy.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Addressing conflict-related sexual violence at long last

... ...

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

Talulah Riley, Thomas Brodie-Sangster join Danny Boyle's FX series 'Pistols'

Westworld star Talulah Riley and The Queens Gambit actor Thomas Brodie-Sangster are the latest additions to the cast of filmmaker Danny Boyles limited series about the legendary English band Sex Pistols.The show, set up at FX, is based on t...

Olympics-Decision on foreign spectators up to Japan, says IOC's Coates

The decision whether to allow overseas spectators to attend the Summer Games is up to Japan, a senior International Olympic Committee official said on Thursday, signalling that it is up to the host nation what to do about fans in venues. Th...

Clear morning in Delhi

It was a clear Thursday morning in the national capital with the minimum temperature settling at 12.2 degrees Celsius, the Met office said.The weatherman has forecast a clear sky during the day and said the maximum temperature is expected t...

Cricket-England recall spinner Bess, elect to bat in final test v India

England captain Joe Root won the toss and elected to bat in the fourth and final test against India in Ahmedabad on Thursday. The tourists strengthened their spin department by recalling off-spinner Dom Bess. Batsman Dan Lawrence was also r...

Give Feedback