Its CEO Tesla, who recently won his title richest man in the world, overcoming him Jeff Bezos, did not give further details about the donation. In the tweet, he simply stated that more details will be revealed next week. However, a TechCrunch source said that the project is linked to Xprize Foundation. It is a non-profit organization that hosts competitions aimed at encouraging technological development and innovation for the good of humanity.
CO capture and storage technology2, which is encouraged by Elon Musk, does exactly what her name says. Binds carbon dioxide emitted in refineries or factories and then the stores for the purpose of removing potentially harmful by-products from the environment. In this way it contributes to combating climate change. It is not very new technology but so far little progress has been made.
In general, many Companies have tried the last two decades to help mitigate climate change using a variety of methods.
The high cost for carbon capture and storage was one of the main obstacles to the development of this technology. However, there are Companies who have dealt with carbon capture and use, One technology similar to binding and storage, where carbon dioxide emissions are collected and converted into other more valuable uses.
For example, the LanzaTech has developed technology that blocks emissions and uses bacteria to turn them into ethanol fuel. Using a bioreactor, gas emissions from factories, etc., are converted into liquids. LanzaTech is based on a bacterium that likes to "eat" this gaseous waste. As the bacterium eats the emissions, it creates ethanol. Ethanol can then be converted into various products. LanzaTech has also created a new independent company called LanzaJet and works on other possible products, such as the conversion of ethanol to ethylene (or otherwise ethene), which is used to make polyethylene for bottles, and PEP for the fibers used to make clothes.
Other Companies dealing with the capture and use of gases are Climeworks and Carbon Engineering.
The Swiss Climeworks specializes in immediate air capture, which uses filters to take in carbon dioxide from the air. Emissions are stored or sold for other uses. THE Carbon Engineering, on the other hand, she is a Canadian company που removes carbon dioxide from the atmosphere and processes it for other uses or even to create new synthetic fuels.