SOURCE: X PRIZE Foundation

X PRIZE Foundation

April 19, 2011 08:00 ET

Progressive Insurance Automotive X PRIZE Competition Highlights to Be Discussed at New York International Auto Show

NEW YORK, NY--(Marketwire - Apr 19, 2011) -

WHO/WHAT:
Cristin Dorgelo Lindsay, X PRIZE Foundation Vice President of Prize Operations, along with the Progressive Insurance Automotive X PRIZE's Steve Wesoloski, Director, Technical Operations and Julie Zona, Director, Team Development and Relations, will be at the New York International Auto Show from April 20-21 to highlight the progress being made by the winners and other finalist teams since last September's awarding of the $10 Million Progressive Insurance Automotive X PRIZE. They will also be discussing the technical results and data generated during the competition, as well as the X PRIZE Foundation's vision for future innovation and prize development in automotive and transportation advancement.

WHEN/WHERE:
April 20-21, 2011
New York International Auto Show
Jacob Javits Convention Center
655 W 34th Street, New York, NY 10001

INTERVIEW REQUESTS:
Please contact Michael Timmons at 310-741-4884 or michael.timmons@xprize.org

ABOUT THE PROGRESSIVE INSURANCE AUTOMOTIVE X PRIZE
The goal of the Progressive Insurance Automotive X PRIZE was to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. In September 2010, three vehicles emerged as winners of the Prize after nearly 30 months of vehicle and business plan development, on-track testing at Michigan International Speedway, and laboratory verification at the Department of Energy's Argonne National Lab. These vehicles were proven to exceed100 Miles per gallon or energy equivalent (MPGe), while being clean and production capable. The ten million dollar purse and partial funding for prize operations was provided by Progressive Insurance. Additional major funding for education, outreach, and technical operations was provided by $9 million in grants from the U.S. Department of Energy. Additional funding for prize operations was provided by Cisco and private donors. For more information about the Progressive Insurance Automotive X PRIZE, visit http://www.progressiveautoxprize.org.

ABOUT PROGRESSIVE:
Progressive, founded in 1937, is one of the country's largest auto insurance groups and a leading insurer of motorcycles, recreation vehicles, boats, and commercial vehicles. The Company offers competitive rates and innovative products and services that meet drivers' needs throughout their lifetimes as well as 24/7 online and in-person customer and claims service. One of Progressive's Core Values is Excellence. To the Company's more than 24,000 people, it simply means seeking constant improvement. Over time, this has meant introducing revolutionary ideas that make car insurance easier to shop for, buy and use. It's this same innovative spirit that's behind the Company's sponsorship of the Progressive Insurance Automotive X PRIZE. The Progressive Insurance Automotive X PRIZE will inspire innovation that will produce more fuel efficient vehicle choices, helping to make a difference in people's lives. Progressive's products and services are available locally through more than 30,000 independent insurance agencies in the U.S., online at http://www.progressive.com, and by phone at 1-800-PROGRESSIVE (1-800-776-4737).

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.

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