Elon Musk offers $100 million for winning carbon capture technology - Smart Energy Decisions

GHG Emissions  -  January 22, 2021

Elon Musk offers $100 million for winning carbon capture technology

Tesla’s Elon Musk announced on Twitter on Jan. 21 that he is offering a $100 million prize to whoever develops the “best” technology to capture carbon dioxide emissions.

Elon Musk Tweets about prize for carbon capture technology

Musk followed his initial tweet with one promising more details to come next week.

While many companies and organizations have formed plans to reduce emissions generation, the International Energy Agency says emissions capture innovation is needed to meet net-zero emissions targets and combat climate change. However, little technology exists for doing so.

Musk’s incentive is likely to spur innovation in this area, as is U.S. President Joe Biden who promises to accelerate carbon capture technology in his climate change plan. 

Musk also heads up rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.

 

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