Tesla CEO Elon Musk Announces $100 Million Prize For Best Carbon Capture Technology

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Tesla CEO Elon Musk on Thursday announced a $100 million prize for the development of the best carbon dioxide capture technology.

With the world growing warm because of humanity’s insistence on burning fossil fuels, it is imperative to capture planet-warming emissions to keep climate change in check. Last year, the International Energy Agency noted that a sharp rise in the deployment of carbon capture technology was required for countries to meet net-zero emissions targets.

The Tesla boss on Thursday announced the carbon capture competition, with more details expected to arrive next week. This announcement of prize money for carbon-capturing comes as a surprise, considering that his philanthropic track record over the years has been of little account as compared to the likes of Jeff Bezos.

Following the announcement, several Twitteratis said they had a simple thought of planting a tree. The tweet received more than 307,500 likes and thousands of responses, with one user writing, “If nobody comes up with something better than trees….. let’s plant some trees”.

“Hello, this is my invention for carbon capture technology: I call it a tree,” another added. It is also worth mentioning here that the newly sworn-in President Joe Biden plans to expedite the development of carbon capture technology as part of his plan to deal with climate change.

On Jan.. 21, Biden named Jennifer Wilcox, an expert on capturing and storing carbon dioxide from the atmosphere, as the principal deputy assistant security for fossil energy at the US Department of Energy. Aside from that, he even announced that the United States is back on the Paris Climate Accord, which was originally signed in 2015 but Trump ditched the agreement in 2017.

Joining the agreement will allow the U.S. to regain its authority to accelerate the efforts that are currently been made to deal with the climate crisis. Biden has also announced that the future is net-zero by 2050.

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