Tuesday, April 29, 2008

X Prize: $100 Million for Clean Fuels

From BusinessWeek:

In a bid to speed innovation, the foundation plans awards for breakthroughs in biofuels and other alternative-energy fields

The X Prize Foundation made its name handing out $10 million awards for cutting-edge innovation in promising but thinly financed fields of research. But now the Santa Monica (Calif.) foundation is targeting one of the most-crowded contests in technology: the race to discover clean alternatives to fossil fuels.

In its richest and largest competition yet, the foundation will divvy up some $100 million for transformations in biofuels, clean aviation fuel, energy storage, the provision of basic utilities for developing nations, and other categories....MORE