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Elon Musk donating $100 million for best carbon capture technology

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SpaceX owner and Tesla CEO Elon Musk poses as he arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020.

Britta Pedersen | AFP | Getty Images

Elon Musk tweeted Thursday he will be “donating $100 million towards a prize for best carbon capture technology.”

The Tesla and SpaceX boss didn’t provide any specifics beyond the tweet, but said “details next week.” Cash rewards for innovation prizes aren’t new. For example, the XPRIZE foundation is a non-profit which facilitates cash prizes to incentivize innovation.

So what’s carbon capture technology?

Carbon capture, utilization and storage or sequestration (CCUS), which is often shortened to “carbon…



Source cnbc.com

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