SOURCE: X PRIZE Foundation

X PRIZE Foundation

January 05, 2011 16:14 ET

Progressive Insurance Automotive X PRIZE to Showcase Award-Winning 100 MPGe Vehicles at Detroit Auto Show

PLAYA VISTA, CA--(Marketwire - January 5, 2011) - -

WHO/WHAT:

Winners of the $10 million Progressive Insurance Automotive X PRIZE, along with other competing teams and their vehicles, will be on display at the 22nd North American International Auto Show (NAIAS) in Detroit, MI.

Cristin Dorgelo Lindsay, X PRIZE Foundation Vice President of Prize Operations, will be joined by the $5 million Mainstream Class winner and one of TIME magazine's Best Inventions of 2010 Edison2 (Charlottesville, VA) and the $2.5 million Alternative Tandem Class winner X-Tracer (Winterthur, Switzerland). They will be available to discuss the impact of the competition and how the vehicles and their technologies are helping to spur innovation and drive economic development within the auto industry. 

WHEN/WHERE:

January 10-14, 2010
North American International Auto Show at Cobo Center
Concourse - Central Entrance
One Washington Blvd., Detroit, MI 48226

VISUALS:

Edison2's Very Light Car and X-Tracer's E-tracer will be on display in the Progressive Insurance Automotive X PRIZE booth, providing a unique backdrop for interviews with press conference participants and teams. In addition, press will have the opportunity to interview other Progressive Insurance Automotive X PRIZE entrants displayed throughout the NAIAS showroom. 

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 exceed 100 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 www.progressiveautoxprize.org or email progressiveautopress@xprize.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
Founded in 1995, the X PRIZE Foundation is the leading nonprofit organization solving the world's Grand Challenges by creating and managing large-scale, high-profile, incentivized prize competitions that stimulate investment in research and development worth far more than the prize itself. The organization motivates and inspires brilliant innovators from all disciplines to leverage their intellectual and financial capital for the benefit of humanity. The X PRIZE Foundation conducts competitions in four Prize Groups: Education & Global Development; Energy & Environment; Life Sciences; and Exploration (Ocean and Deep Space). Prizes won include the $10 million Ansari X PRIZE for private, suborbital space flight; the $10 million Progressive Insurance Automotive X PRIZE for creating safe, affordable, production-capable vehicles that exceed 100 MPG energy equivalent (MPGe); and the $2 million Northrop Grumman Lunar Lander X PRIZE CHALLENGE for advanced rocket development. Active prizes include the $30 million Google Lunar X PRIZE, the $10 million Archon Genomics X PRIZE, and the $1.4 million Wendy Schmidt Oil Cleanup X CHALLENGE. For more information, visit www.xprize.org.

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