7/11/2008

The DOT said Thursday it will hold a competition aimed at encouraging the development of renewable fuels and technologies for the aviation industry. The FAA and the DOT have provided $500,000 to the X Prize Foundation for the contest to develop alternative jet fuels. The winner of the prize will receive $10 million or more. "It will be a competition that everyone wins, because a breakthrough in alternative jet fuels is a potential game-changer that could bring lower airline fuel costs, greater U.S. energy independence, and cleaner air," DOT Secretary Mary Peters said.

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