X PRIZE Foundation Reveals Expanded Vision for Future; Prize Groups Aim to Solve World’s Most Urgent Problems by Targeting Four Key Areas
Aviation Fuel (Sustainable Aviation Fuel (SAF)), Business, Federal Agency/Executive Branch, Funding/Financing/Investing, Mobile and Portable Biorefineries/Pretreatment, R & D Focus
April 19, 2010
(XPrize Foundation, Marketwire) …X PRIZE is an educational nonprofit organization whose mission is to create radical breakthroughs, inspiring the formation of new industries, jobs and the revitalization of markets that are currently stalled. Through strategic design of ground-breaking competitions with significant, multi-million-dollar prize purses, X PRIZE spurs collaboration among the world’s most brilliant minds to address the issues. Today, it is widely recognized as the leader in fostering innovation through competition.
…Current Prize:
- Progressive Automotive X PRIZE (PIAXP): XPF’s goal is to inspire a new generation of viable, safe, affordable and super fuel-efficient vehicles that people want to buy. Working with the U.S. Department of Energy, X PRIZE will award $10 million in September 2010 to the teams that win a rigorous stage competition for clean, production-capable vehicles that exceed 100 MPG energy equivalent (MPGe).
Prize under Consideration:
- Clean Fuels: X PRIZE received a grant from the Federal Aviation Administration to develop a prize resulting in the widespread adoption of clean aviation fuel. The Foundation is also developing a partnership for second-generation small-scale distributed biofuel production technologies. READ MORE
