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.--(Business Wire)--
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.

Progressive Insurance Automotive X PRIZE
Carrie Fox, 202-255-9214
Carrie.Fox@xprize.org

Copyright Business Wire 2009