X Prize Foundation Aims At Oil Cleanup Efforts

The X Prize Foundation, based in Playa Vista, is applying its competitive model for technology innovation to the huge, BP oil spill. According to the foundation, it is set to launch its sixth major competition next week, which will be a multi-million dollar, privately funded effort to inspire entrepreneurs, engineers, and scientist to develop highly efficient methods to capture crude oil from the surface of the ocean. No detail son the prize have yet been announced, however, the group said it will announce details of the prize on July 29th, along with Wendy Schmidt of the Schmidt Family Foundation, Philippe Cousteau, Jr. of Earth Echo International/Azure Worldwide/Animal Planet Green, Dr. Dave Gallo, Woods Hole Oceanographic Institution, as well as representatives from the white house, the EPA, the National Oceanographic & Atmospheric Administration, and others. The X Prize Foundation -- best known for its successful efforts to spur commercial space exploration -- has been offering up large, multi-million dollar prizes to help advance segments of science and technology and spur advancements in space, energy, automobiles, and other sectors.