ConocoPhillips, Penn State launch 2009 ConocoPhillips Energy Prize

Houston and University Park, Pa. — ConocoPhillips [NYSE: COP] and Penn State Monday (Feb. 16) launched the 2009 ConocoPhillips Energy Prize, a competition to recognize — with awards up to $300,000 — new ideas and original, actionable solutions that can help improve the way the United States develops and uses energy.

The competition, now in its second year, recognizes innovative ideas and solutions in three areas: developing new energy sources, improving energy efficiency, and combating climate change.

Securing the nation’s energy future will require innovative ideas that maximize existing resources, create sustainable and diverse energy supplies, and significantly reduce greenhouse gas emissions. Last year the ConocoPhillips Energy Prize recognized several talented individuals and teams for their innovative strides towards the development of clean, sustainable energy and improved energy efficiency. This year the award will again recognize some of the nation’s brightest minds as they work to address these challenging energy issues.

Official rules for the 2009 ConocoPhillips Energy Prize are available at http://www.conocophillips.com/energyprize. Entries will be accepted through May 1. A qualified panel of expert judges will select up to five finalists to present their submissions in October. Submissions will be judged on the basis of creativity, scalability, commercial viability and sustainability.

ConocoPhillips and Penn State awarded the first ConocoPhillips Energy Prize in 2008 to David A. Gonzales II to further develop the Layered MagWheel — a new technology for magnetic acceleration and frictionless braking for vehicles that increases energy conversion and efficiency. Since winning the competition last year, Gonzales has formed a company to coordinate the development of the Layered MagWheel and expects to complete and test the prototype in the coming months.