As the aviation industry faces escalating fuel costs and growing pressure to curb emission levels. On Thursday, the U.S. Department of Transportation said that it will finance a new competition designed to spur innovation in renewable fuels and technologies for the aviation industry. The DOT is giving the X Prize Foundation $500,000 seed money for the prize and the payout may reach as much as $10 million dollars when all is said and done.
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July 11, 2008
DOT Proposes Contest to 'Green' the Jet Fuel Industry
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