SMITHFIELD, NC -- (Marketwire) -- 11/06/08 -- Nelson TYWA Power Corp. today announced itsacceptance into the multimillion dollar Progressive Insurance Automotive XPRIZE, a competition designed to inspire a new generation of viable, superfuel-efficient vehicles to offer more consumer choices.Nelson TYWA Power Corp. was among the first to submit its registrationapplication, an important step towards ensuring that it is at the startingline when the cross country stage race competition kicks off next year.Final confirmation of Nelson TYWA Power Corp.'s Registered Team status ispending their signature of a Master Team Agreement (MTA) upon its releaselater this year.
Rod Nelson, the inventor of the vehicle's technology, leads the team'sefforts. Nelson previously owned a large pipeline company and a miningcompany, and holds a number of patents, one being a laser measuring devicethat is now used worldwide. He has already received one patent, and hasanother pending for the Nelson engine.
Other members of the Nelson TYWA Team include Durwood Woodall, principalowner in Tarheel Tooling, a precision machining & tool company, who taughtat Johnston Community College, serves as a member of the College's boardand is very active in several community organizations; and Billy Phillips,an engine and drivetrain specialist who currently teaches at JohnstonCommunity College. Phillips works closely with engineers from diesel &transmission companies in presenting seminars of developing technologies.Woodall's company has been responsible for all of the machining on thevehicle's engine and Phillips will be putting the engine into the prototypevehicle.
To date, more than 120 teams from 28 states and 17 countries have signedletters of intent to compete for their share of the $10 million prizepurse, funded by Progressive, which will be awarded to those that candesign and build production-capable, 100 MPGe (miles per gallon energyequivalent) vehicles that people will want to buy and that meet marketneeds for price, size, capability, safety and performance.
"Our focus is on bringing to the marketplace an affordable engine that canbe retrofitted into any vehicle in existence today or in the future, at acost the average person can afford," noted Nelson. "As a point of referenceour engine hopes to obtain a clean, 100 MPGe rating in a full size SUV,with smaller vehicles obtaining even greater MPGe."
With registration into the competition now officially open, many of those100+ teams are actively working on their applications to become officialcompetitors of the Progressive Automotive X PRIZE. Those who pass thisfirst round of qualification, as Nelson TYWA Power Corp. now has, will moveinto the next phase of competition, which includes a dramatic cross countrystage race set to begin next September.
"We congratulate Nelson TYWA Power Corp. on its continued commitment todeveloping super fuel-efficient vehicles," noted Don Foley, ExecutiveDirector of the Progressive Automotive X PRIZE. "While there's still muchto be accomplished before reaching that starting line in New York City,we're pleased to see that they have taken this important step in theprocess."
Once registration closes at the end of this year, and the field ofcompetition is in place, qualified competitors will begin preparing for arigorous cross country stage race that will combine speed, distance, urbandriving and overall performance. The race is set to kick off in New YorkCity in September 2009, and will continue in up to nine other major citiesthroughout the U.S. Winners will be announced in 2010.
"Our team is very excited about being given the opportunity to compete inthe Progressive Automotive X PRIZE races," added Nelson. "We feel this willshowcase our technology in a manner unheard of or unattainable for mostsmall companies. The need for clean affordable vehicles reaches not onlythe general public but will decrease fuel cost for farmers, truck driversand can even make your power lawnmower environmentally friendly."
For more information about Nelson TYWA Power Corp., please visithttp://home.earthlink.net/~pegisist/index.html or emailpegisist@earthlink.net
About the Progressive Automotive X PRIZE Competition:
The goal of the Progressive Automotive X PRIZE, a project of the X PRIZEFoundation, is to inspire a new generation of viable, super fuel-efficientvehicles that offer more consumer choices. Ten million dollars in prizeswill be awarded to the teams that win a stage race for clean,production-capable vehicles that exceed 100 MPGe.
The Progressive Automotive X PRIZE will place a major focus onaffordability, safety, and the environment. It is about developing real,production-capable cars that consumers want to buy, not science projects orconcept cars. This progress is needed because today's oil consumption isunsustainable and because automotive emissions significantly contribute toglobal warming and climate change.
For more information about the Progressive Automotive X PRIZE, please visitwww.progressiveautoxprize.org or email progressiveautopress@xprize.org.
About Progressive:
Progressive, founded in 1937, is one of the country's largest autoinsurance groups and a leading insurer of motorcycles, recreation vehicles,boats, and commercial vehicles. The Company offers competitive rates andinnovative products and services that meet drivers' needs throughout theirlifetimes as well as 24/7 online and in-person customer and claims service.
One of Progressive's Core Values is Excellence. To the Company's more than27,000 people, it simply means seeking constant improvement. Over time,this has meant introducing revolutionary ideas that make car insuranceeasier to shop for, buy and use. It's this same innovative spirit that'sbehind the Company's sponsorship of the Progressive Automotive X PRIZE. The Progressive Automotive X PRIZE will inspire innovation that willproduce more fuel-efficient vehicle choices, helping to make a differencein people's lives.
Progressive's products and services are available locally through more than30,000 independent insurance agencies in the U.S., online athttp://www.progressive.com and by phone at 1-800-PROGRESSIVE(1-800-776-4737).
Contacts:
Pegi Nelson
919-734-4845
pegisist@earthlink.net
Carrie Fox
202.255.9214
Carrie.Fox@xprize.org