Elon Musk to offer $100 million prize...

Dhaka, Saturday   27 February 2021

Elon Musk to offer $100 million prize for ‘best’ carbon capture technology

 Science & IT Desk daily-bangladesh.com

 Published: 04:21 PM, 24 January 2021   Updated: 04:25 PM, 24 January 2021

Elon Musk

Elon Musk

Billionaire entrepreneur Elon Musk on Thursday announced a $100 million prize for the 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 toward a prize for best carbon captures 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.

Newly-sworn-in US 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 US Department of Energy.