Elon Musk announced a $ 100 million tournament

Elon Musk $ 100 million to enter a new X Prize Foundation competition to develop carbon neutral technologies the edge. He is the richest man in the world Already in January, Twitter announced its plan, but the details are just becoming known.

The competition is open to all parts of the world and the program lasts for four years. After 18 months, 15 finalists will be selected, with the projects winning $ 1-1 million. Additionally, $ 200,000 in support will be provided to 25 teams made up of students.

The contest winner will get $ 50 million, the runner-up $ 20 million and the third place prize $ 10 million at the end of the contest.

Participants will have to develop technology that can extract carbon dioxide directly from the atmosphere or ocean and store the extracted materials in a durable and environmentally friendly way. The X Prize Foundation is looking for solutions that can absorb at least one tonne of carbon dioxide per day and can be increased to a gigaton. You are expected to get more details about the competition by April 2021.

According to Musk, they expect systems that are not theoretical, but are also applicable in real life. Carbon capture technologies are still expensive, but many experts believe the method can be used to combat climate change effectively.