Tech & Gadgets

Elon Musk To Give $100 Million To Maker Of Best Carbon Capture Technology

On Thursday, Tesla and SpaceX CEO Elon Musk teased his new humanitarian effort: a competition aimed at supporting more innovative technologies for carbon capture.

Musk, who briefly passed Amazon CEO Jeff Bezos as the world’s richest man before a slide in Tesla’s stock price dropped him back a spot, said that the details will be given next week.

Musk signed the Giving Pledge in 2012, an initiative initiated by Bill Gates and Warren Buffett that requires signatories to donate at least half of their wealth over their lifetimes, and has mainly contributed to science and engineering education, research into renewable energy, pediatric research, and research into human space exploration.

But in September, an analysis by Forbes found that Musk has only contributed $100 million to date, less than 1 percent of his net worth.

Nevertheless, Musk’s proposed carbon capture competition will go towards a cause that, particularly under the Biden administration, is likely to play a major role in fighting climate change going forward.

In November, a study released by Science Reports concluded that businesses and policymakers urgently need to “start developing the technologies for large-scale removal of greenhouse gases from the atmosphere,” a method known as carbon capture and storage (CCS).

The technology is becoming the most commonly accepted method of geoengineering as a safe and potentially successful form, and Biden expressed support for it in his campaign platform, saying that his team would “accelerate the development and deployment of carbon capture sequestration technology.”

In particular, Biden aims to make carbon capture available more widely, cheaper and plans to fund projects that focus on this technology.

Source: Forbes

Adib Mohd

Recent Posts

Meet Lee Jun Young Up Close in Kuala Lumpur, Tickets Now Available

Malaysian fans, the wait is finally over! Lee Jun Young, the multitalented actor, singer and… Read More

2 days ago

Lee Jung-jae and Lim Ji-yeon Reignite the Rom-Com Spark in Nice to Not Meet You, Exclusively on Prime Video

Prime Video has unveiled Nice to Not Meet You, an upcoming Korean rom-com series starring… Read More

2 days ago

Goodbye One-Off EPF, Hello Monthly Pension? Here’s What’s Brewing

If you’ve ever worried about spending all your EPF savings too fast after retirement, the… Read More

2 days ago

Generali Malaysia Strengthens East Malaysia Presence with New-Look Sandakan Branch

Generali Insurance Malaysia Berhad today announced the launch of its newly renovated branch in the… Read More

2 days ago

More Than a Makeover, L’Oréal Launches First-of-Its-Kind Social Salon in Asia

Malaysia is now home to Asia’s first-ever Beauty for a Better Life Salon, a dedicated… Read More

2 days ago

The Ordinary Opens Its First-Ever Pop-Up in Malaysia

The Ordinary has officially landed in Malaysia, not just in stores, but with its first-ever… Read More

2 days ago

This website uses cookies.