ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Submissions for the Zayed Future Energy Prize, the world’s preeminent award for innovation, leadership, long-term vision and impact in renewable energy and sustainability, are now open for the 2012 competition. Submissions will be received until 19 September 2011 online at www.ZayedFutureEnergyPrize.com.

“There is no greater challenge today than to address climate change, sustainable development and the need for cleaner sources of energy,” said Dr. 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.”

Recently, the value of the Award was raised from US$2.2m to US$4m. The categories of the Award include: Individuals, SMEs and NGOs, and Large Corporations in the field of renewable and sustainable energy. The new categories focus on supporting emerging businesses and individuals which have innovative ideas and projects that can create a positive impact on meeting the requirements of our greatest energy challenges. A Recognition Award will be offered to large corporations which contribute to developing clean technologies and promoting the application of sustainable solutions.

In the SME/NGOs category, three prizes will be offered: US$1.5m to the winner, US$1m to the first-runner up, and US$500,000 to the second runner-up. This category will focus on 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 (Individual), the winner will be awarded US$500,000 for achieving an effective role in spreading awareness or developing a policy supporting renewable energy or sustainability. Candidates can be from a variety of disciplines: academia, politics, technology, and/or business. Candidates for this category may not be self-nominated and must be nominated by a third party.

A fourth category, a High School (International) Prize awarding US$500,000, will be introduced in 2012, signaling the on-going development of the Zayed Future Energy Prize and its focus on supporting and encouraging the efficient capabilities of young generations. The submissions will be received from the next competition (2012-2013).

The assessment of submissions will be performed according to the highest standards, with special emphasis on transparency and dedicating the required time and attention. The evaluation will consist of a four-stage procedure. The first stage: a reputed international research & analysis firm conducts due diligence on all submissions to ensure that they meet the basic criteria of the prize, to advance renewable energy and sustainability through innovation, impact, leadership, and long-term vision. Second stage: the Review Committee, comprised of faculty members from several educational institutes in the UAE, including Masdar Institute of Science & Technology and UAE University, and international energy experts will assess the candidate submissions in greater detail and select the leading candidates for further evaluation. Third stage: the Selection Committee, comprised of high-level energy experts, will select the top finalists. Fourth stage: the Jury, comprised of distinguished leaders from around the world will select the winners and runners-up in each category, who will be honoured in an Awards Ceremony to be held in Abu Dhabi, UAE, on 17 January, 2012.

About the Zayed Future Energy Prize

The Zayed Future Energy Prize honours the legacy of the late Sheikh Zayed Bin Sultan Al Nahyan, Founding Father of the United Arab Emirates, who championed environmental stewardship as an integral part of UAE history and heritage. Managed by Masdar, on behalf of the Abu Dhabi government, this annual award celebrates achievements and leadership in renewable energy and sustainability and aspires to educate and inspire future generations.

For more information on the prize, submission guidelines, and profiles of past winners, visit: www.ZayedFutureEnergyPrize.com

*Source: ME NewsWire

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