DOE Launches $1 Million Hydrogen Prize

WASHINGTON, DC - August 28, 2009: The AIADA newsletter reported that according to Autoblog.com, the Department of Energy has just announced a new program with a $1 million prize to anyone that can devise a breakthrough hydrogen storage system by 2011.

The move comes in spite of the agency's move to slash funding for federal hydrogen and research development programs. Though hydrogen proponents may argue that the costly high-pressure storage tanks aren't a major stumbling block (or at least won't be within the next few years), the reality is that a more cost effective solution would be a boon for hydrogen vehicles.

Though a million bucks isn't exactly chump change for the vast majority of us, it pales in comparison to the tens of billions of dollars regularly pumped into the research and development of alternative fuels and technologies.

Details of the program are slated to be released any time now at www.hydrogenprize.org.