Elon Musk announced that he is going to donate a whopping $100 million as a certain prize for finding the best carbon capture technology! There were not a lot of details revealed, however, $100 million is a lot of money not just for scientists but for most average people.
Elon Musk on renewable energy
According to an article by Electrek, carbon capture, otherwise known as carbon capture and storage or CCS is what people call the particular processes that would involve the capturing of carbon dioxide or CO2 within the source of the emission and in order to stop it from leaking directly into the air. This would also involve technologies that could utilize carbon for a number of other purposes.
This particular concept has reportedly been suggested as a sort of potential solution in order to slow down the effects of climate change by significantly reducing the total amount of carbon dioxide that is emitted directly into the atmosphere. This would include solutions that could even possibly reverse the effect some time in the future. However, the current carbon capture technologies are still working at an inefficient pace and also add cost towards energy production. This makes it uncompetitive without the carbon prices.
Elon Musk gives prize money
The involvement of Elon Musk in this specific sector of science comes with him announcing a plan to overall encourage the development of certain carbon capture technology by giving a prize of a whopping $100 million towards the "best carbon capture" according to Bloomberg. He still did not reveal more about how this particular prize is going to be given away. However, he did say that he will reveal more some time next week.
Musk has also previously stated that Tesla's main mission is to help accelerate the advent of future electric transportation as well as using renewable energy in order to fix climate change. At a particular conference on the sidelines of the recent Paris Agreement, Tesla's Elon Musk even described emitting large amounts of CO2 in the atmosphere wording it as the "dumbest experiment" that ever happened in history.
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Elon Musk Tesla
He then explained that due to the current finite nature of the fossil fuels used, humanity is going to have to transition towards renewable energy in the future. Therefore, he stated that it was dumb not to try to make the transition as fast as humanly possible especially if the extent of the consequences when it comes to changing the content of the atmosphere is still not known. What's expected, however, is that the worst case scenarios will be quite devastating.
With Elon Musk adding to the prize money, this might encourage young and experienced innovators to work towards the best carbon capture technology in order for it to be used in the future. While Tesla is still a business and is aggressively selling EVs almost all around the world, Elon Musk is still very vocal about his advocacies.
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This article is owned by Tech Times
Written by Urian Buenconsejo
