Elon Musk, world's richest person, offers $100 mln prize for carbon capture tech

Elon Musk will donate $100 million as prize to anyone who can develop the best carbon capture technology.The Tesla CEO has joined the race to better technology can be developed to ensure CO2 emissions are brought down.
By : HT Auto Desk
| Updated on: 22 Jan 2021, 08:46 AM
File photo of Tesla CEO Elon Musk. (REUTERS)
File photo of Tesla CEO Elon Musk. (REUTERS)
File photo of Tesla CEO Elon Musk. (REUTERS)
File photo of Tesla CEO Elon Musk.

Tesla CEO Elon Musk took to Twitter on Thursday to announce he would offer a prize of $100 million to someone who can develop the best technology to capture carbon dioxide emissions. At a time when it is widely recognized that such emissions are one of the key factors behind climate change, Musk's announcement is likely to put a firm focus on efforts to capture CO2 emissions in a better, possibly far more efficient manner.

Musk, active on his Twitter account which has millions of followers, made the announcement of offering the prize money to anyone who is able to develop an advanced carbon capturing technology. "Am donating $100M towards a prize for best carbon capture technology," he wrote on the micro-blogging site, adding that the details will be announced 'next week.'

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The 49-year-old billionaire entrepreneur has been known for his efforts for a planet that relies on sustainable sources of energy. Tesla is one of the biggest examples as the company's electric vehicles have become a rage the world over, almost compelling most of the other traditional car makers to make the switch away from internal combustion engines. Additionally, Tesla solar panels for homes too are fast becoming common sight.

It would take more, much more, to fight climate change.

With several countries setting out ambitious targets to become carbon neutral, the International Energy Agency had said last month that more advanced carbon capturing technology was required if such targets were to be met.

US President Joe Biden, who took the oath of office earlier this week, has also underlined his commitment towards carbon capturing technology and re-affirmed his country's role in leading the world in the fight against global warming.

In the collective efforts then, Musk has now jumped in to do his bit.

First Published Date: 22 Jan 2021, 08:44 AM IST
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