H-Prize Act Passes House Committee on May 23

According to this May 23 press release, the bill creating the H-Prize Act unanimously passed the House Committee on Science and Technology. The bill creates prizes for scientific breakthroughs in the use of hydrogen as an energy source for transportation.

Every two years, four $1 million prizes would be given for advances in the production, storage, distribution, and utilization of hydrogen, and one $4 million prize would be awarded for advances in prototype hydrogen vehicles. And at the end of ten years one grand prize of $10 million would be given for a transformational advance in hydrogen energy technology.

The bill now moves to the full House of Representatives for consideration.