Elon Musk offers $ 100 million for the technology of sequestration of CO₂ from the atmosphere
The richest man in the world has invested $ 100 million in prize money for the new X Prize Foundation competition for the most effective technology for capturing carbon dioxide from the air. The competition was announced this morning and will run for four years and is open to teams around the world.
15 teams will be selected for participation within 18 months. Each will be allocated a million for research. Additionally, 25 separate scholarships of $ 200 thousand will be awarded to student teams.
The winner will receive $ 50 million, the runner-up $ 20 million, the third - $ 10 million.
According to the conditions, the winners must "demonstrate a solution that can bind carbon dioxide directly from the atmosphere or oceans and permanently isolate it in an environmentally friendly way." The challenge for the participants is to propose a working solution that can bind one tonne of CO₂ per day and is scalable to gigatons. The full terms of reference will be published on April 22, 2021.
“This is not a theoretical competition; we need teams to build real systems that can have measurable impact and scale to gigatons. All that is needed. Time is of the essence, ”Musk said in a statement.
The technology for removing carbon from the atmosphere is an expensive idea that still cannot be implemented in a large-scale project. Scientists put forward various ideas, from planting millions of trees to physically removing greenhouse gases from the air, while the heating of the planet is rapidly accelerating, which, if the permafrost thaws, threatens to turn into an irreversible self-sustaining process.