Elon Musk will give a $ 100 million prize to the best carbon capture technology, the businessman tweeted, adding that it would reveal details next week.
“I’m donating $ 100 million to the award for best carbon capture technology,” wrote Tesla’s chief executive on Twitter on Thursday.
The donation could be part of an award connected to the Xprize Foundation, a nonprofit organization that rewards technology that changes the industry for a better, safer and more sustainable world, a person with knowledge of the plan told TechCrunch.
The decarbonisation of energy infrastructure, the reduction of greenhouse gas (GHG) emissions in heavy industries and the production of low-carbon hydrogen will be virtually impossible without carbon capture, use and storage (CCUS), the International Energy Agency Energy (IEA) said in a report last year.
“Achieving zero network will be virtually impossible without CCUS”, says the International Energy Agency (IEA).
The strengthening of climate goals and the increase in government support have created in recent years a new impetus for CCUS to become an economical and large-scale solution to reduce emissions in many carbon-intensive industries.
The concept of carbon capture and related technologies has been around for years. But the fight against climate change has prompted governments, large oil and gas companies and scientists to pay increasing attention to the idea that sucking carbon from industrial emissions or directly from the air could be a way to reduce oil and gas emissions. gas operations, as well as emissions difficult to reduce in industrial processes such as steel, chemicals or cement production.
CCUS is becoming increasingly popular with governments as they try to “rebuild in a greener way” after the pandemic. It is also gaining popularity with some of the biggest oil companies. It seems that everyone in the oil and gas sector and other heavy industries are taking carbon capture seriously and working on related technologies, while governments support such technologies because environmentally concerned investors and the general public will no longer be washed. green and will demand decisive action.
By Tsvetana Paraskova for Oilprice.com
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