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Abu Dhabi’s Masdar Initiative Launches $2.2 Million Zayed Future Energy Prize

Masdar
2008-01-22 10:14 826

2007 Nobel Laureate Dr. R.K. Pachauri to Chair the Zayed Future Energy Prize Jury

ABU DHABI, United Arab Emirates, Jan. 22 /Xinhua-PRNewswire/ -- The government of Abu Dhabi announced today the establishment of the Zayed Future Energy Prize, awarding $US2.2 million annually to honour individuals and organizations for their excellence in the innovation, development and implementation of sustainable energy solutions.

The Zayed Future Energy Prize will be awarded to three individuals or organisations that have made significant contributions in the global response to the future of energy. The award is named after UAE founding father Sheikh Zayed Bin Sultan Al Nahyan who fostered the UAE’s commitment to sustainability and environmental responsibility.

The winner of the prize will receive $1.5 million; two additional finalists will be awarded $350,000 to take their ideas and ambitions forward.

Finalists and winners will be chosen by a jury composed of the world’s leading experts in future energy and the mitigation of climate change. The jury will be chaired by Dr. R.K. Pachauri, Chairman of the Intergovernmental Panel on Climate Change, which won the 2007 Nobel Peace Prize for their efforts to raise public awareness about climate change while establishing measures to counter that change.

The criteria for the prize and the process for nominations will be developed by the jury. More details on the nomination process and jury composition will come with the April 2008 call for nominations.

The inaugural prize will be awarded in 2009 under the aegis of Masdar, Abu Dhabi’s multi-faceted, multi-billion dollar investment in renewable and alternative energy. Projects and innovations in one or more of the following fields are eligible for nomination:

-- Renewable and sustainable energy;

-- Efficient use of traditional sources of energy;

-- Conservation;

-- Sustainable energy policy;

-- Communication and public awareness.

Dr. Sultan Al Jaber, CEO of the Masdar Initiative said, "Today, climate change is one of the biggest issues we face and new solutions are needed to meet the ever increasing demand for energy. His Highness the late Sheikh Zayed’s environmental leadership and Abu Dhabi’s role as a leading energy producer creates a natural foundation for this prize. Masdar is designed to be an incubator of innovation and the Zayed Future Energy Prize will recognise -- and in many ways nurture -- these ideas to protect our planet and provide for the future," he said.

More about Masdar

In April 2006, Abu Dhabi launched Masdar, a multi-faceted, multi-billion dollar investment in renewable and alternative energy and clean technology. Masdar is helping to explore, develop and commercialize such future energy sources, including solar and hydrogen power. In 2008, Masdar will break ground for Masdar City, the world’s first zero-carbon, zero-waste, car-free city, which will eventually be home to 1,500 businesses and 50,000 residents.

For more information, please contact masdarmedia@edelman.com.

Mark Grundy at +1-917-517-4882 or Beth Keith at +1-212-704-4545

Kirstin Mckellar at +971-50-139-2619

Stephen Worsley at +971-50-558-0678

More about the World Future Energy Summit

From January 21-23, 2007, Masdar is hosting the inaugural World Future Energy Summit (WFES), bringing together the world’s leading innovators, educators, scientists, venture capitalists and experts in the field of alternative and renewable energies. The summit will be the largest meeting of the "future energy" movement and the premier event for world leaders to preview new solutions and technologies and seek partners. The summit will be a carbon-neutral certified event.

For more information about WFES, please contact Lindsey Bredin at

+971-50-379-0348 or l.bredin@turretme.com or please visit http://www.wfes08.com .

CONTACT:

Desmond Crofton

Tel: +852-2837-4743

Email: desmond.crofton@edelman.com

Ashley Hegland

Tel: +852-2837-4714

Email: ashley.hegland@edelman.com

Source: Masdar
Keywords: Oil/Energy
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