ConocoPhillips Announces First Energy Prize Winner

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ConocoPhillips Announces First Energy Prize Winner

HOUSTON & UNIVERSITY PARK, Pa. -- In recognition of developing a new technology that provides magnetic acceleration and frictionless braking for vehicles, increasing energy conversion and efficiency, ConocoPhillips and Penn State awarded the first ConocoPhillips Energy Prize to David A. Gonzales II.

During the awards ceremony held at ConocoPhillips corporate offices in Houston, Sig Cornelius, senior vice president, Finance, and CFO of ConocoPhillips, told those in attendance, "Developing diverse sources of sustainable, reliable energy, reducing greenhouse gas emissions, and significantly improving energy efficiency all require technological advances. Along with our partners at Penn State, we are pleased to recognize David A. Gonzales II and the finalists for their innovative ideas to maximize our existing resources and identify new opportunities."

Dr. William Easterling, dean of Penn State’s College of Earth and Mineral Sciences, added, "Like ConocoPhillips, Penn State believes that the nation needs fundamentally new knowledge and applications of that knowledge to diversify its energy supply, while simultaneously improving the efficiency by which it generates and utilizes that energy."

In total, more than 300 proposals were submitted for evaluation by a panel of energy and environmental experts, which selected five finalists. Proposals were judged on the basis of creativity, scalability, commercial viability and sustainability, noted Easterling.

"The development and commercialization of energy technologies based on novel ideas, such as those represented by the ConocoPhillips Energy Prize, will assist the United States in meeting its energy needs while spurring economic growth," Easterling said in a released statement.