Updated: Aug 24
Elon Musk has been dedicating a lot of time and his personal money to carbon capture utilization. Even going as far as announcing on Twitter that he has added $100 Million of his personal money to award the next person or company that has a promising solution to making carbon capture utilization work.
What is Carbon Capture Utilization?
Carbon capture traps carbon dioxide at its emission source, transporting it to a storage location, typically deep underground, and isolating it. With global warming and a growing economy, the need is greater than ever.
Carbon Capture in Texas
According to Forbes, a week after Elon Musk announced he would be adding $100 Million toward the price for best carbon capture technology, Rice University’s Baker Institute for Public Policy, in a project supported by the Cynthia and George Mitchell Foundation, released a new report on January 28 detailing the potential for the state of Texas to play a leading role in the development of this economic sector. Why Texas? Oil and gas fields. Two big companies in the state have already begun work – ExxonMobil and Oxy.
Read the full article here: Elon And Exxon Agree: Carbon Capture Is Set To Explode In 2021.
Photo courtesy of Forbes / Getty Images.