The world’s richest man Elon Musk has come up with a $100 million prize for the best carbon capture technology. With the growing concerns of climate change, the development of carbon capture technology is seen as an alternative to have a faster and effective check on the fossil fuel emission worldwide.
Details next week— Elon Musk (@elonmusk) January 21, 2021
Last year, the tech was discussed by the International Energy Agency as an effective measure to achieve the net-zero emission goals by the countries worldwide. The newly elected US president, Joe Biden has also pledged to accelerate the tech as part of its plans to tackle the climate change. He has even announced the return of US to the Paris Climate Accord that the Trump government abandoned in 2017.
This initiative is his maiden philanthropic investment until now.