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Elon Musk's $100 Million Prize Is for Tech The World Desperately Needs

Elon Musk said he'll unveil details of the prize next week.
Highlights
3 startups are working on pilot plants to capture carbon dioxide from air
Musk heads Tesla Inc. and Space Exploration Technologies Corp
Elon Musk, the world's richest man, is donating $100 million toward a prize for the "best carbon capture technology."
Carbon capture is, in fact, a broad mix of technologies with the same aim: collecting carbon dioxide so it doesn't escape into the atmosphere and contribute to global warming. The greenhouse gas can be captured from power plants and factories, or even directly from the air.
Musk, who heads Tesla Inc. and Space Exploration Technologies Corp., said he'll unveil details of the prize next week. But his past statements suggest that one of his key goals is to lower the price of direct-air carbon capture so it can feasibly be used to make synthetic rocket fuel, replacing the fossil fuels used now.

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