Net Zero Summit

USD 100 million for best carbon capture tech promises Tesla CEO Elon Musk

Tesla Inc CEO Elon Musk on Thursday via his Twitter account promised a $100 million prize for development of the best carbon capture technology.

To keep climate change in check capturing planet-warming emissions has become a critical part of many plans, 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.

Last year the International Energy Agency said a sharp rise in the deployment of carbon capture technology was needed if countries are to meet net-zero emissions targets.

Musk wrote in a tweet- “Am donating $100M towards a prize for best carbon capture technology.” This was  followed by a second tweet that promised “Details next week.”

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