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Elon Musk Pledges $100 Million Reward For Best Greenhouse Gas Capture Technology

Elon Musk Pledges $100 Million Reward For Best Greenhouse Gas Capture Technology
Photo Credit: Getty Image

Tesla Inc boss and billionaire entrepreneur Elon Musk on Thursday took to Twitter to pledge a $100 million reward for the creation of the “best” device to trap greenhouse gas emissions.

Capturing planet-warming pollution is now a vital aspect of many plans to keep climate change in place, but relatively little progress has been made on the technique to date, with attempts focusing on reducing emissions rather than keeping carbon out of the environment.

At the end of last year, the International Energy Agency said that a sharp increase in the implementation of carbon capture technologies was required if countries were to meet their commitments for net-zero emissions.

“Am donating $100M towards a prize for best carbon capture technology,” Musk wrote in a tweet, followed by a second tweet that promised “Details next week.”

Tesla officials did not respond to a request for more details immediately.

Musk, who co-founded and sold PayPal Holdings Inc, an Online payment firm, now runs some of the world’s most futuristic enterprises. Besides Tesla, he leads the rocket corporation SpaceX and Neuralink, a startup that builds brain-machine interfaces of ultra-high bandwidth to connect the human brain to computers.

As part of his sweeping agenda to combat climate change, newly-sworn-in U.S. President Joe Biden has vowed to promote the production of carbon capture technologies.

He appointed Jennifer Wilcox, a carbon reduction technology specialist, as the U.S. Deputy Assistant Secretary of Fossil Energy on Thursday.⠀

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