Elon Musk to deliver $ 100 million prize for best carbon capture technology, entrepreneur he tweeted, adding that he would reveal details about this next week.
“I’m giving away $ 100 million to get a prize for the best carbon capture technology,” Tesla’s chief executive wrote on Twitter on Thursday.
The donation could be part of an award related to the Xprize Foundation, a non-profit organization that gives awards to technology that changes the industry for a better, safer and more sustainable world, a person with TechCrunch told knowledge of the plan.
Decarbonisation of energy infrastructure, reduction of greenhouse gas (GHG) emissions in heavy industries and low carbon production will be virtually impossible without carbon capture, utilization and storage (CCUS), the International Energy Agency (IEA)) said in a report last year.
“Reaching zero-zero will be virtually impossible without CCUS,” says the International Energy Agency (IEA).
Strengthened climate targets and increased government support have created a new impetus in recent years for CCUS to become a large-scale and cost-effective solution to reduce emissions in many carbon-intensive industries.
The concept of carbon capture and related technologies have been around for years. But the fight against climate change has caused governments, major oil and gas companies and scientists to pay increasing attention to the idea that aspirating carbon from industrial or direct air emissions could be a way to reduce oil and gas emissions. operations, as well as emissions that are difficult to reduce in industrial processes such as steel, chemicals or cement production.
CCUS is becoming increasingly popular among governments as they try to “get greener” after the pandemic. It is also gaining popularity among some of the largest oil companies. It seems that everyone in the oil and gas sector and other heavy industries is taking carbon capture seriously and working on related technologies, while governments support these technologies so that environmentally conscious investors and the public in general will no longer have an ecological wash and will demand decisive actions.
By Tsvetana Paraskova for Oilprice.com
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