Musk offers $100 million prize for carbon capture

Source: Provided by Moneyweb

Elon Musk has offered money for a good cause. Who stands to win this money?

One of the worlds richest men has turned his attention to global warming and environmental sustainability.

Tesla founder Elon Musk is offering a $100 million prize for the best technology to capture carbon dioxide emissions out of the atmosphere. The Tesla founder announced the move on twitter.

Capturing planet warming emissions has become a big part of plans to keep climate change in check. But little progress made on the technology side so far with efforts focused on cutting emissions instead.

There is no shortage of ideas around the world. In Iceland scientists have tried taking CO2 out of the air and turning into rock stored far underground. Swiss scientists have also tried to store captured carbon in layers of impermeable clay deep under the mountain. Such efforts have also been recorded in the US and Norway.

Many scientific firms will get a chance to take a shot at Musk’s millions.