Progressive Insurance Automotive X PRIZE to Receive up to $5.5 Million in Funding from U.S. Department of Energy to Further Technical Goals of Competition

Progressive Insurance Automotive X PRIZE to Receive up to $5.5 Million in
Funding from U.S. Department of Energy to Further Technical Goals of
Competition

Public-Private Partnership Intended to Educate and Engage Public in Advanced
Vehicle Technologies, Energy Efficiency, Climate Change, Alternative Fuels,
and the Science and Math Behind Efficient Vehicle Development

PLAYA VISTA, Calif., Nov. 2 /PRNewswire-USNewswire/ -- The X PRIZE Foundation,
a world leader in conducting incentivized competitions to stimulate
innovation, today announced it will receive up to $5.5 million in funding from
the American Recovery and Reinvestment Act, on behalf of the U.S. Department
of Energy (DOE).

With this latest award, the DOE joins the X PRIZE Foundation and competition
Title Sponsor Progressive Insurance in a unique public-private partnership to
spur the development of super fuel efficient and clean vehicles. The DOE
funding will provide for technical expertise that ensures each vehicle design
is reviewed correctly and consistently. Funding will also support expanded
outreach and education efforts that will focus on promoting public awareness
of the science and engineering behind energy efficient vehicle designs. It
also supports President Obama's Strategy for American Innovation, which calls
on federal agencies to increase their use of prizes as a tool for promoting
technological advances.

"Our clean energy future depends on our ability to design and commercialize
new highly-efficient vehicles that are cost-effective for consumers and use
significantly less energy," said Energy Secretary Steven Chu. "This funding
will support cutting-edge, American innovation that can help us fundamentally
transform personal transportation and address the global climate crisis."

The DOE supported the Progressive Insurance Automotive X PRIZE from the outset
with a $3.5 million award to fund a two-year national education program that
engages students and the public in learning about advanced vehicle
technologies, energy efficiency, climate change, alternative fuels and the
science, technology, engineering and math behind efficient vehicle
development.

"The U.S. Department of Energy has a rich history of research and development
in energy efficiency and vehicle technologies, and a commitment to educating
consumers and the public," noted Peter Diamandis, chairman and CEO of the X
PRIZE Foundation. "Their strong and continued commitment to the Progressive
Insurance Automotive X PRIZE will give us the ability to reach audiences
across consumer and government sectors, and drive change in the future of the
auto industry."

News of the award comes as the Progressive Insurance Automotive X PRIZE
conducts its technical team summit in Las Vegas as part of the annual SEMA
show. A press briefing is scheduled for Tuesday, November 3 at 1:20pm PT, in
SEMA's Making Green Cool Zone, located in the upper South Hall of the Las
Vegas Convention Center. Multiple Qualified Teams will be showing their
vehicles at the Progressive Insurance Automotive X PRIZE booth throughout the
show.

Specific tasks included within this DOE award include:

-- Vehicle Telemetry Procurement, Installation and Integration: Vehicle
telemetry and data acquisition hardware is essential to the technical
execution of the competition. This award will specifically assist in
procuring, installing, and integrating telemetry equipment into
Progressive Insurance Automotive X PRIZE competition vehicles and
establish a data transmission network to enable real-time data
telemetry, which will provide an interactive online experience that
allows internet users to follow the competition vehicles as they
perform
in real-time during the competition series.
-- Pre-Competition Series Safety and Technical Assistance: The award will
also provide qualified vehicles with an array of expert consulting,
vehicle safety inspections, and fuel economy and emissions vehicle
testing appropriate to their design and level of development. Vehicle
design consulting will be provided to select teams by personnel with
expertise specific and relevant to their design and will include
review
and discussion of vehicle limitations and deficiencies as well as
prospective corrective actions.

-- Design and Implement Technical Competition Components: The DOE will
provide support for additional technical staff to design, implement,
and
manage the competition events. Seven members of the technical team,
each
experienced automotive experts, were announced recently. Details are
available at http://tinyurl.com/progressiveautoxprizetechteam.

The Progressive Insurance Automotive X PRIZE is aligned with the mission of
the DOE's Vehicle Technologies Program, which regularly works with academia,
the private sector, and non-profit organizations, such as X PRIZE, as part of
the Department's work to develop vehicle technologies and alternative fuels
that can reduce greenhouse gas emissions, lessen our dependence on foreign
oil, and help the U.S. transportation industry remain competitive in the years
ahead.

ABOUT THE PROGRESSIVE INSURANCE AUTOMOTIVE X PRIZE
The goal of the Progressive Insurance Automotive X PRIZE is to inspire a new
generation of viable, super fuel-efficient vehicles that offer more consumer
choices. Ten million dollars in prizes will be awarded to the teams that win a
stage competition for clean, production-capable vehicles that exceed 100 Miles
per gallon or energy equivalent (MPGe). The Progressive Insurance Automotive X
PRIZE will place a major focus on efficiency, safety, affordability, and the
environment. It is about developing real, production-capable cars that
consumers will want to buy, not science projects or concept cars. This
progress is needed because today's oil consumption is unsustainable and
because automotive emissions significantly contribute to global warming and
climate change. For more information about the Progressive Insurance
Automotive X PRIZE, please visit www.progressiveautoxprize.org or email
progressiveautopress@xprize.org.

ABOUT THE U.S. DEPARTMENT OF ENERGY
Working with a wide array of state, community, industry, and university
partners, the U.S. Department of Energy's Office of Energy Efficiency and
Renewable Energy (EERE) invests in a diverse portfolio of energy technologies.
Energy efficiency and clean, renewable energy will mean a stronger economy, a
cleaner environment, and greater energy independence for America. For more
information about the U.S. Department of Energy's Office of Energy Efficiency
and Renewable Energy please contact the EERE Information Center at
1-877-EERE-INF (1-877-337-3463) or on the web at www.eere.energy.gov

ABOUT THE X PRIZE FOUNDATION
The X PRIZE Foundation is an educational nonprofit prize institute whose
mission is to create radical breakthroughs for the benefit of humanity. In
2004, the Foundation captured world headlines when Burt Rutan, backed by
Microsoft co-founder Paul Allen, built and flew the world's first private
vehicle to space to win the $10 million Ansari X PRIZE. The Foundation has
since launched the $10 million Archon X PRIZE for Genomics, the $30 million
Google Lunar X PRIZE, and the $10 million Progressive Insurance Automotive X
PRIZE. The Foundation is creating and conducting competitions in four prize
groups: Exploration (Space and Oceans), Life Sciences, Energy & Environment,
and Education & Global Development. The Foundation is widely recognized as the
leader in fostering innovation through competition. For more information,
please visit www.xprize.org.

Contact: Carrie Fox 202.255.9214

SOURCE Progressive Insurance Automotive X Prize

Carrie Fox, +1-202-255-9214, Carrie.Fox@xprize.org, for Progressive Insurance
Automotive X Prize