Elon Musk is going to fund $100 million towards a XPRIZE for the development of the best carbon capture technology.

What happened?

On January 22nd Musk intrigued his followers with a single tweet:

Now it is official that XPRIZE has officially announced a new carbon removal competition. The aim of the new competition is to come up with a scalable technology able to remove carbon from the Earth’s biosphere at the gigaton scale.

What do we know already about this XPRIZE?

The carbon removal competition is looking for solutions that pull CO2 directly from the atmosphere or oceans. Besides that, companies should be able to put carbon dioxide to permanent storage in an environmentally friendly way.

XPRIZE is a non-profit foundation that organizes challenges for the development of technology that benefits humanity. Their competitions usually last for up to 4 years. The goal is to save humanity from the disastrous climate change that is already underway.