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Elon Musk launches $100 million carbon removing competitors

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Elon Musk has pledged $100 million in the direction of a brand new world competitors that may problem groups to take away carbon dioxide from the Earth’s ambiance.

 

The SpaceX and Tesla CEO mentioned the XPrize Basis would run the competitors for 4 years, with an final purpose of “carbon negativity, not neutrality”.

In an announcement on Monday, Mr Musk mentioned: “This isn’t a theoretical competitors. We would like groups that may construct actual techniques that may make a measurable impression and scale to a gigaton stage. No matter it takes. Time is of the essence.”

Mr Musk, who overtook Jeff Bezos earlier this yr to turn into the world’s richest particular person, has a web price in extra of $200 billion, in accordance with the Bloomberg Billionaires Index.

As one of many founders of the pioneering on-line funds platform PayPal, his fortune since has largely been made by betting his proceeds from the sale on futuristic applied sciences.

Because the main electrical automobile maker, Tesla hopes to create a extra environmentally sustainable future on Earth, whereas SpaceX’s ambition is to remodel humanity right into a multi-planetary species.

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The inspiration’s web site described the XPrize because the “largest incentive prize in historical past”, aimed toward tackling the “largest risk” going through humanity.

“The world’s main scientists estimate that we could must take away as a lot as 6 gigatons of CO2 per yr by 2030, and 10 gigatons per yr by 2050 to keep away from the worst results of local weather change,” the site states.

 

“For humanity to achieve the Paris Settlement’s purpose of limiting the Earth’s temperature rise to not more than 1.5C of pre-industrial ranges, and even 2C, we want daring, radical tech innovation and scale up that goes past limiting CO2 emissions, however really removes CO2 already within the air and oceans.

“This four-year world competitors invitations innovators and groups from wherever on the planet to create and exhibit options that may pull carbon dioxide instantly from the ambiance or oceans in the end scaling massively to gigaton ranges, locking away CO2 completely in an environmentally benign approach.”

Full particulars of the XPrize might be launched on Earth Day on 22 April.

 

 

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