X Prize: $100 Million for Clean 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.

The foundation has issued skeletal details on the new prizes in recent days on its Web site. In a telephone interview and an e-mail exchange, foundation President Tom Vander Ark said the biofuels prize would be launched late this year, followed by the other categories over the coming two years. The biofuels prize will be worth at least $10 million, he said.

Sounds good. I will be interested to find out what the specific goals will be for the prizes.

via Business Week