Elon Musk's $100 M Tech Challenge
Musk Offers $100 M Prize For Best Carbon Capture TechnologySource: Greenhouse Gas Emissions Stock Image
Source: Elon Musk Stock Image
Global Competition & Need
Tesla founder and CEO Elon Musk is offering a $100 million prize for the best new carbon capture technology. Capturing greenhouse gas emissions is a key component of tackling Climate Change. But very little progress has been made on the technology to date. The International Energy Agency says taking carbon out the the air is an essential component for reaching net-zero emissions targets.
Elon Musk has become the #1 & #2 richest person in the world from his many entrepreneurial successes. He founded and is CEO of Tesla, SpaceX, The Boring Company and Neuralink. He announced the $100 million competition on Twitter. He promised more details on the challenge this week. Meanwhile, President Joe Biden is also accelerating the development of carbon capture technologies as part of his agenda to tackle Climate Change.