Elon Musk Donates $100 Million For Carbon Capture Competition

Feb. 17, 2021
The Tesla and SpaceX CEO is funding the $100 million XPrize, which seeks new ways to remove carbon from the air or water.

Tesla and SpaceX CEO Elon Musk is putting up $100 million to fund the XPrize competition, a contest that seeks new ways to remove carbon from the air and water, according to an article from NPR. The contest will reportedly launch on Earth Day and run for four years, through 2025.

The aim of the contest is to take on "the biggest threat facing humanity — fighting climate change and rebalancing Earth's carbon cycle," XPrize says. The overall winner will reportedly receive $50 million. Second place will take $20 million and $10 million will be awarded for third place. Other groups, including student teams, may also receive funding and scholarships, according to the article. Registration opens on April 22.

Read the entire article here.

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