Elon Musk donates $ 100 million to help reduce carbon emissions
Elon Musk donates $ 100 million to help reduce carbon emissions

(Elon Musk) Elon Musk has pledged $ 100 million as part of the XPrize Foundation's new race for carbon removal technology.

The match was announced Monday morning, will run for four years and is open to teams around the world.

The XPrize Foundation is a non-profit organization that designs and organizes public competitions to promote technological development for the benefit of humanity.

Within 18 months, 15 teams compete, and each team will receive a prize of $ 1 million, and the remaining 25 grants are $ 200,000 to be awarded to the student team.

The Grand Prize Winner - $ 50 Million, Second Place - $ 20 Million, and Third Place - $ 10 Million.

The XPrize Foundation said the winner must demonstrate a solution that can extract carbon dioxide directly from the atmosphere or ocean and shut it down permanently in an environmentally friendly way.

Residents are looking for a solution to remove a ton of carbon dioxide per day, which can be as much as a kiloton. The complete competition guide will be released on April 22nd.

"We hope it has a real impact on carbon negativity, not neutrality," Musk said in a statement. It is not a theory contest.

In January, Musk announced in a tweet that he had donated the prize shortly after becoming the richest man in the world through Jeff Bezos, CEO of Amazon.

When that happened, CEOs of Tesla and SpaceX tweeted millions of subscribers about the practical application of the donation method.

$ 100 million came from the Mask Foundation, which was previously twice the amount donated by the Nassation Foundation overall.

Decarbonization is an expensive idea that has yet to be proven. Your options range from financing afforestation projects to emitting greenhouse gases into the air.

This technology is gradually becoming aware of global warming and appreciating large companies in particular.

Last year, financial services firm Stripe allowed companies to use a portion of the proceeds to develop carbon removal technology through its payment processing platform.

Microsoft announced in 2020 that it hoped to recover the equivalent of all the carbon dioxide previously emitted into the atmosphere, and Microsoft pledged to invest $ 1 billion to do so.

Last month, the company gave its first glimpse of the slight progress made towards this goal: it bought a contract to capture 1.3 million tons of carbon dioxide, or just 11% of its total emissions in 2020.

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