Elon Musk to pay $ 100 million for CO2 solution

Elon Musk to pay $ 100 million for CO2 solution

Violet Field inHigh TechJan 23, 2021 2 min read3 views

The billionaire promises to say more from next week on his Twitter account

One hundred million dollars is the sum promised by billionaire Elon Musk to whoever finds the best technology to capture and store CO2. A contest launched from a simple tweet published this Friday and about which the founder of Tesla and SpaceX has promised to deliver more details as early as next week.

Am donating $ 100M towards a prize for best carbon capture technology

- Elon Musk (@elonmusk) January 21, 2021

This announcement comes just two days after the inauguration ceremony of Joe Biden, the Democrat having recorded upon taking office the return of the United States to the Paris Climate Agreement. As Business Insider specifies, the 46th US president had promised during his campaign that his administration would take measures to "accelerate the development and deployment of carbon sequestration technology".

Countering global warming

The technique consists in concrete terms of “capturing” the carbon dioxide emitted by an industrial installation and then storing it in the earth's subsoil or else recovering it. The goal: to avoid the release of CO2 into the atmosphere. Although still underdeveloped, this technology is increasingly emerging as a safe and potentially effective form of geoengineering compared to other approaches in the fight against global warming. Hence the “bet” launched by Elon Musk, whose tweet had already been relayed more than 51,000 times this Friday afternoon.

If the entrepreneur has put $ 100 million on the table, Business Insider recalls that he is one of the signatories of the “Giving Pledge”, an initiative launched by Bill Gates. According to this text, Elon Musk pledged to donate half of his fortune during his lifetime. A sum that he is still far, very far from having distributed.