MUSK TO ANTE UP US$100M FOR CARBON CAPTURE PRIZE

Elon Musk said he plans to donate US$100 million toward a prize for the best carbon capture technology, weeks after he became the world’s richest person. Musk, shown, said details would come next week. Carbon capture and storage is a mix of different technologies, which all share one goal: trapping carbon dioxide, a greenhouse gas that’s warming the planet, and stopping it from being dumped in the atmosphere. It can be installed to capture emissions from power plants, industry or even directly from the air. There are about two dozen large-scale plants around the world, which can capture about 40 million tonnes of CO2 each year — about 0.1 per cent of the global annual total. The South African-born entrepreneur is now worth US$201.4 billion, according to the Bloomberg Billionaires Index.