ConocoPhillips Energy Prize Winner Awarded

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ConocoPhillips Energy Prize Winner Awarded

HOUSTON & UNIVERSITY PARK, Pa. – ConocoPhillips and Penn State have awarded the 2009 ConocoPhillips Energy Prize to Scott Anderson and team for their 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.

The ConocoPhillips Energy Prize recognizes new ideas and original, actionable solutions that can help improve the way the United States develops and uses energy. The prize focuses on innovative ideas and solutions in three areas: developing new energy sources, improving energy efficiency and combating climate change.

"We are proud to champion the ConocoPhillips Energy Prize to encourage and assist the nation's brightest minds in bringing their energy-related ideas to reality," said Jim Mulva, ConocoPhillips chairman and CEO.

"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," added Dr. William Easterling, dean of Penn State's College of Earth and Mineral Sciences.

More than 150 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.

The winner and four finalists received an award of $25,000 to further the development of their concept. The winner received an additional $100,000; the first and second runners-up received an additional $50,000 and $25,000 respectively.

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