Monday, May 05, 2008

New $100 million X-Prizes in Clean Energy

I'm a big fan of the X-Prizes - but I'm not sure if these ones are necessary (h/t Instapundit):

A Biofuels X-Prize has already been created to inspire breakthroughs in next generation sustainable liquid fuels. The biofuels prize competition will officially launch later this year with a prize of at least $10 million. Other categories that will be attacked in the next couple of years include solar power, water, sustainable housing and carbon capture. In total the energy and environment prizes are will give away up to $100 million.
The people who solve the little problem of clean sustainable energy have a multibillion dollar if not trillion dollar energy market beckoning... But hey, I guess a cool instant $10M+ wouldn't hurt (and if the money is going to be spent anyway, doing it this way is definitely better than wasting that it by betting on any one company over others).

No comments: