Playa Vista-based X Prize Foundation, the nonprofit group looking to spur technology innovation through cash-based prizes, has scored $5.5M from the Department of Energy. According to the DOE, it is awarding $5.5M from the American Recovery and Reinvestment Act to the foundation, as part of the Automotive X PRIZE Competition. The competition--one of several being run by the X PRIZE Foundation--is looking to spur commercially viable, high efficiency, energy efficient vehicles. The Automotive X PRIZE competition currently has 43 teams competing for a $10M prize funded by Progessive Insurance. The DOE said the new funding will go towards technical assistance and to expand national education and outreach efforts for the competition.
Top NewsMonday, November 2, 2009
DOE Gives X PRIZE Foundation $5.5M