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+ - An X Prize for Algae Biofuel->

Submitted by Ichijo
Ichijo (607641) writes "A $10 million Algae Fuel Prize has been announced by venture capital firm Prize Capital to encourage development of commercially viable fuel from algae. "The Algae Fuel Prize's rules specifies that the winner must produce 3,000 net gallons of diesel fuel per acre at a cost of no more than $3 per gallon. The net quantity is obtained by subtracting the gallons of fuel used in producing the algae from the yield. Prize Capital will also work to arrange buyers for the fuel.""
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An X Prize for Algae Biofuel

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