Elon Musk Announces $100 Million Price for Developing Path-breaking Carbon Capture Tech

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Elon Musk has announced a price of 100 million dollars for developing a carbon capture technology with a potently augmented efficacy level. As several countries are 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. The World’s Richest Person has made this announcement promising to donate the amount to anyone who can develop the world’s best carbon capture tech.

Carbon Capture Tech

Carbon capture is essentially a process through which carbon particles from large emissions are captured and recycled for other purposes, thereby reducing carbon emissions. The renewed urgency with regard to climate change has reinvigorated interest in the technology. 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.

Tesla’s CEO, Elon Musk has joined the race to invent tech that reduce our carbon emission numbers. He made this important announcement through his Twitter handle that has millions of followers. He also added that the further details of this initiative will be announced during the course of the upcoming week. The 49-year-old billionaire entrepreneur is already known for his efforts for a planet that relies on sustainable sources of energy. 

Need of the Hour

Carbon emissions have been dubbed as the leading cause of global climate changing and the rapidly increasing global temperatures. This announcement has been made at an extremely potent time, when the world is reeling under the effects of a pandemic and facing the imminent dangers of global warming. Musk has once again drawn attention to develop tech that will capture these greenhouse emissions in an efficient manner. US President, Joe Biden, who took office this week 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.