$100 Million prize to develop this technology, Elon Musk announces

Elon Musk, Tesla Inc Chief took to twitter and promised $100 million prize for development of the “best” technology to capture carbon dioxide emissions.

There have been very little progress made on the technology to keep climate change in check.

The International Energy Agency stated that a sharp rise in the deployment of carbon capture technology was needed if countries are to meet net-zero emissions target.

Elon Musk, wrote “Am donating $100M towards a prize for best carbon capture technology,” further added “Details next week,” in the second tweet.

As a part of sweeping plan to tackle climate change, Joe Biden, the newly-sworn US President has pledged to accelerate the development of carbon capture technology.