Tesla Chief Executive Elon Musk plans to award $100 million for the “best carbon capture technology.”
Musk announced the plan for the prize Thursday in a tweet, saying more details will come next week.
Carbon-capture could be an interesting tool to combat climate change. The idea is counter to many methods today that aim to reduce carbon. Carbon-capture actually extracts carbon from the air.
While it’s obviously an interesting idea, there has not been a breakthrough that advances the technology in a significant way.
Musk has dedicated his time and money to reducing carbon emissions. In many ways Tesla has forced the auto industry into an electric future. Tesla’s cars have actually helped save 3.6 million tons of CO2.
It will be interesting to see if Musk’s prize will accelerate carbon-capture tech.