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