On Thursday, Tesla Inc chief announced his donations plan on Twitter. Elon Musk, a billionaire entrepreneur and once the richest person on the planet, tweeted about his promise of donating prize money of $100 million prize for developing the “best” technology to capture carbon dioxide emissions. To keep climate change under control, capturing planet-warming emissions is becoming a critical part of many plans. However, not much progress has been made on the technology to date. There have been attempts to focus on cutting emissions in place of taking carbon out of the air.
Last year, the International Energy Agency informed that if countries are to meet net-zero emissions targets, there is a need of a sharp rise in the deployment of carbon capture technology. He tweeted, “Am donating $100M towards a prize for best carbon capture technology”. In his second tweet, he informed that he would share the details following week. Currently, Musk leads some of the most futuristic companies in the world. He had co-founded and sold Internet payments company PayPal Holdings Inc.
Apart from Tesla, he leads rocket company SpaceX. Also, he heads Neuralink, a startup that is working on ultra-high bandwidth brain-machine interfaces to link the human brain to computers. Besides this, to expedite the development of carbon capture technology, newly -sworn-in U.S. President Joe Biden has pledged under his sweeping plan to tackle climate change. He named Jennifer Wilcox as the principal deputy assistant secretary for fossil energy at the U.S. Department of Energy. Wilcox is an expert in carbon removal technologies.