Elon Musk presents $100 million prize for ideal carbon capture technologies

Elon Musk standing on a stage posing for the camera

© Provided by The Independent

Tesla founder Elon Musk has provided a $100 million prize for the “best” carbon seize technologies.

The tech billionaire, who briefly overtook Amazon’s Jeff Bezos as the world’s richest gentleman this thirty day period, tweeted the announcement and promised far more details next 7 days.

“Am donating $100M towards a prize for ideal carbon capture know-how,” Mr Musk wrote.

Carbon Capture and Storage (CCS), untested at professional scale, eliminates the carbon dioxide emitted by burning fossil fuels and transports it for long lasting storage underground.  

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In response, a number of of Mr Musk’s followers who shared the tweet proposed a solution — plant a lot more trees. 

The prize will be related to the Xprize Foundation, a non-gain that hosts public competitions to persuade technological growth, Tech Crunch reported.

President Joe Biden has placed enormous great importance on his strategy to deal with the climate disaster and claims he wants to put the US on the highway to be carbon neutral by 2050.

Mr Musk, the CEO of SpaceX, not long ago asked his 42.7 million Twitter followers how he should really commit his fortune, now approximated at extra than $201bn.

“Crucial comments is usually super appreciated, as effectively as strategies to donate funds that actually make a variation (way more challenging than it appears to be),” he tweeted.

In 2012 the South African-born billionaire signed the Providing Pledge initiative started off by Bill Gates and promised to give away half of his fortune.

Mr Musk has publicly donated $257 million to the Musk Basis and has claimed that much of his wealth will be made use of for area exploration and his ambition to colonise Mars.

“It’s heading to take a ton of means to create a city on Mars,” he explained to German publisher Axel Springer in December.

“I want to be capable to contribute as substantially as probable,” Mr Musk explained.