X Prize Foundation Offers Millions For Creative Ways to Clean BP's Messy Oil Spill

The X Prize Foundation, most noted for their multi-million dollar contest such as the as the $30 million Google Lunar X Prize and the $10 million Progressive Insurance Automotive X Prize has set their sites on cleaning up the BP oil spill.

On July 29, 2010, the X PRIZE Foundation will launch its sixth major competition, a multi-million dollar privately funded Oil Cleanup X CHALLENGE, designed to inspire entrepreneurs, engineers, and scientists worldwide to develop innovative, rapidly deployable, and highly efficient methods of capturing crude oil from the ocean surface. At the press conference, speakers will discuss the goals and objectives of the prize, team rules for entry, amount of the prize purse and announce the competition benefactor.

More information is due tomorrow during the official press release but for now you can visit http://www.xprize.org or follow the X PRIZE Foundation via Facebook or on Twitter @XPrize.