It's no doubt that Elon Musk has proven his genius thinking when it comes to science and technology. From the Tesla vehicles to SpaceX, Musk has elevated his scientific prowess for the carbon capture competition to combat the worsening global warming on the planet. Now, he pledged $100 million for those who will win in the carbon-reduction project in 2025.
Elon Musk Needs to Find Out the Best Carbon Capture Technology
The upcoming carbon-removal competition will be managed by a nonprofit group called the Xprize Foundation, which already organized several programs about food, health, and space. The latest competition, which will be sponsored by Elon Musk, the CEO of Tesla Inc., will see the aspiring participants who have a knack for engaging with carbon footprint reduction.
Musk reminded the competitors to remember that the competition is all about carbon negativity and not carbon neutrality. The 49-year-old SpaceX CEO continued that time is essential for this type of competition, stressing that the said event is not theoretical by nature.
Per Bloomberg's article, Musk first teased the competition on Jan. 21 through his Twitter post. On Monday, Feb. 8, it was announced that a prize of $100 million will be given to those who will successfully improve carbon dioxide removal (CDR) technologies.
As early as Apr. 22, entries will be open for all innovators who will join the contest, where three winners will share the huge prize. The prize will be split into three: $50 million, $20 million, and $10 million, which will be awarded in 2025.
The teams that will take part in the carbon capture competition should produce an innovation that should be cheaper as much as possible. Moreover, the contest's main criterion will be the removing capability of the machine or any device that the teams will construct. The technology should be able to eliminate as much as 1 billion tons annually.
Carbon180 president Noah Deich, whose organization focuses on eradicating carbon footprints, said that the Xprize team perfectly suits to manage the competition since the crew is composed of professionals who have expertise when it comes to other related scientific explorations. Deich continued that the competition will also attract a lot of entrepreneurs who love participating in discovering the possible developments for humanity.
What is Carbon Removal Technology
According to The Verge, carbon removal technology, despite its potential benefit to remove greenhouse gases, is still considered a costly project that is uncertain at the same time. However, scientists have been captivated by the idea of freeing the world for a carbon-less living. That's why technology has become widely-known to big entities.
In October 2020, Stripe released the first large-scale tool in the world that removes carbon. The new tool, Stripe Climate, became a business-friendly tool because, in just a few clicks, an internet business will be a part of the carbon removal project. This means that a small amount of their revenue will be the fuel to capture the CO2 emissions for businesses.
In the same year, Microsoft also showed interest in engaging in carbon capture after donating $1 billion for the project.
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Written by Joen Coronel
