Zayed Prize offers $4m for energy innovators

Small businesses and individuals who are leading the transition to cleaner, more sustainable energy can now enter the Zayed Future Energy Prize competition, which recognizes innovation, leadership, long-term vision and impact in renewable energy and sustainability.

The 2012 competition, which is now open to entries, features two new categories: the SME/NGO category for small organizations and the lifetime achievement award, which will recognize one outstanding individual for “spreading awareness or developing a policy supporting renewable energy or sustainability.”

The Zayed Future Energy Prize was created to honor the late Sheikh Zayed Bin Sultan Al Nahyan, founding father of the United Arab Emirates and a champion of environmental stewardship. Managed by the renewable energy company Masdar on behalf of the Abu Dhabi government, the annual award this year offers a total of $4 million in prize money.

“There is no greater challenge today than to address climate change, sustainable development and the need for cleaner sources of energy,” said Sultan Ahmed Al Jaber, Director General of the Zayed Future Energy Prize and CEO of Masdar. “By offering the world’s largest future energy prize, our goal is to serve as a catalyst in identifying the most innovative solutions in this arena around the world.”

In the new SME/NGOs category, three prizes will be offered: $1.5 million to the winner, $1 million to the first-runner up, and $500,000 to the second runner-up. The category will focus on organizations making a clear impact through technology development or disseminating a solution in this sector, furthering knowledge, awareness, or policy development. Candidates can be self-nominated.

In the large corporations category, the winner will receive a Recognition Award for having made a significant impact in current markets, coupled with a clear vision for the long-term future, and a coherent, sustainable strategy for its own role in this future. Candidates can be self-nominated.

In the lifetime achievement award, one individual will receive $500,000 for his or her leadership in supporting renewable energy or sustainability. Candidates can be from a variety of disciplines: academia, politics, technology, and/or business. Candidates for this category can not be self-nominated and must be nominated by a third party.

The Zayed Future Energy Prize will also add a fourth category next year: a high school award of $500,000.

Nominations for the 2012 awards are being accepted through September 19.