Cisco Backs Green X Prize Efforts

Network equipment giant Cisco is backing Playa Vista-based X Prize Foundation's clean technology prize effort, the Energy & Environment Prize Group, the firm said today, and will be helping to develop future X prizes focused on environmental and energy-saving goals. The X PRIZE foundation said the collaboration will focus on generating breakthroughs in climate change, water resource management, energy distribution and storage, clean energy, and energy efficiency/use. Financial details behind the effort were not announced, but sponsors of the X Prize typically put up multi-million dollar prizes for various contests to spur technology innovation.