Tesla and SpaceX chief, Elon Musk, has announced intention to donate $100 million as reward to anyone with the best carbon capture technology.

Elon Musk, who recently overtook Amazon founder Jeff Bezos to become the world’s richest person, made the announcement via his Twitter handle @elonmusk, promising to share more details in the coming week.

He tweeted: “Am donating $100M towards a prize for best carbon capture technology.”

Scientists explain that Carbon capture “is the process of trapping waste carbon dioxide either directly from the air, or just before it gets emitted from factories and power plants.”

With the new pledge from Elon Musk, the world looks away from natural Carbon capture mechanism such as “tree planting” to more sophisticated methods that the multimillion dollar challenge might birth forth.

This USD100 million reward development comes as part of world leaders’ measures and investment to reduce the increasing global carbon dioxide emissions which have soared over the last 100 years, and led to unprecedented global warming and climate change.