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X-PRIZE Challenge Offers $1.4 Million for Revolutionary Oil Cleanup Tech

X-PRIZE Challenge Offers $1.4 Million for Revolutionary Oil Cleanup Tech

From the people that brought you private spaceflight and super-fuel-efficient automobiles comes the $1.4 million Wendy Schmidt Oil Cleanup X CHALLENGE. X PRIZE officials announced today a $1 Million purse for the team that can demonstrate the most efficient method of capturing crude oil from the ocean surface.

Inspired, of course, by the ongoing Deepwater Horizon oil spill in the Gulf of Mexico -- which as of this writing appears to still be contained -- the new X CHALLENGE aims to provide impetus for both venture capital and innovative talent gravitate toward next-gen oil cleanup technology.

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