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05/01/2008 08:29 AM
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X-Prize To Award Alternatives to Fossil Fuels
SustainableBusiness.com News
The X Prize Foundation, which has created high-profile, big-money competitions to spur innovation in space travel, genome mapping and high-mileage vehicles, said it has plans for several more prizes aimed specifically at clean alternatives to fossil fuels.
According to a BusinessWeek report, the foundation will parcel out $100 million for advancements in biofuels, clean aviation fuel, energy storage and basic utilities for developing nations.
The foundation said it will announce a new prize of at least $10 million for biofuels by the end of the year. Read the full report.
