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Elon Musk Publicizes $ 100 Million Award for New Carbon Seize Tech

It would be his greatest philanthropic effort to date.

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January
22, 2021

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This story originally appeared on Engadget

Things We Already Know: The world is getting uncomfortably warm because humankind insists on burning fossil fuels. Elon Musk is currently the richest person on the planet. Yet, to be among the richest people in the world, Musk's philanthropic track record over the years has been meager compared to Jeff Bezos. Yes, it was a bit of a surprise on Thursday when the Tesla CEO announced on Twitter that he plans to donate $ 100 million as a prize for a successful carbon capture system.

I'm donating $ 100 million for an award for the best carbon capture technology

– Elon Musk (@elonmusk) January 21, 2021

Details of Musk's upcoming carbon capture competition have not yet been released but are expected to arrive "next week". This isn't the first time a company has asked the public for help with carbon capture technology, which is trying to remove and remove this element from the atmosphere in an attempt to slow the rate of man-made climate change.

See also: Elon Musk replies to a request from a tweeter that sent him the same message 154 times

In 2018, the X-Prize hosted a similar competition and awarded five teams of finalists a share of its grand prize of $ 20 million. With a purse of $ 100 million, Musk's contest will not only offer five times the funding as the X Prize, it will also be his largest single philanthropic investment to date (10 times his second largest donation by far). Of course, this is anything but the first attempt to collect atmospheric CO2 and convert it into consumer goods. The EFPL recently developed a capture system for Semis that converts 90 percent of vehicle emissions into liquid CO2. Researchers at Oxford have found a way to convert it into jet fuel while others have converted the greenhouse gas into diamonds.

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