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X PRIZE Foundation Announces Wendy Schmidt Oil Cleanup X CHALLENGE

X PRIZE Foundation Announces Wendy Schmidt Oil Cleanup X CHALLENGE

The X PRIZE Foundation (www.xprize.org), best known for launching the private spaceflight industry through the $10 million Ansari X PRIZE, and the ultra-fuel efficient vehicle market through the $10 million Progressive Insurance Automotive X PRIZE, today announced the launch of its sixth major incentive competition, the $1.4 Million Wendy Schmidt Oil Cleanup X CHALLENGE.

At a press conference in Washington, DC, the announcement was made by X PRIZE Chairman Peter H. Diamandis together with Wendy Schmidt, who personally funded the $1.4 million prize purse. Wendy Schmidt is president of The Schmidt Family Foundation, Founder of the Foundation?s 11th Hour Project and Climate Central, as well as Co-founder, with her husband Eric, of the Schmidt Marine Science Research Institute.

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