ConocoPhillips, Penn State launch 2010 ConocoPhillips Energy Prize

ConocoPhillips, Penn State launch 2010 ConocoPhillips Energy Prize

Houston and University Park, Pa. -- ConocoPhillips and Penn State on March 17 launched the 2010 ConocoPhillips Energy Prize, a competition that recognizes original and viable solutions that can help improve the way the United States develops and uses energy.

The annual competition, which began in 2008, awards up to $300,000 and recognizes innovative ideas and solutions in three areas: developing new energy sources, improving energy efficiency and combating climate change.

The ConocoPhillips Energy Prize will accept entries through May 21 and is open to all U.S. residents who are at least 18 years of age at the time of entry. Entrants must submit a comprehensive proposal via the Internet at http://www.conocophillips.com/energyprize or by mail.

An expert panel of 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.

"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," said Stephen R. Brand, ConocoPhillips Senior Vice President, technology. "For the last two years the ConocoPhillips Energy Prize has recognized a number of talented individuals and teams, and this year the award will again recognize some of the nation's brightest minds as they work to address the country's challenging energy issues."

ConocoPhillips and Penn State awarded the 2009 ConocoPhillips Energy Prize to Scott Anderson and team for their innovation, the ECO-Auger, a hydrokinetic machine that converts moving water from river and ocean currents to renewable electric energy. Its hydraulic storage pressure compensation system guarantees constant energy output regardless of tidal current strength.

For more information and the official rules of the 2010 ConocoPhillips Energy Prize, visit http://www.conocophillips.com/energyprize.