Back in June, Google launched "RechargeIT.org", an initiative that has various green goals, including trying to reduce CO2 emissions and oil use. They talked the talk and walked the walk in this one, making "green" vehicles their standard fleet, using solar energy and pitching money at others who might have similar goals.
Now, they are upping the ante a bit. Google has issued a request for investment proposals, trying to encourage entrepreneurs, companies and innovators to come up with ideas that will help further their cause to help worldwide energy issues. In this instance, they are aiming particularly at transportation. To make it tempting, they are offering up to $10 million in award money for proposals they receive. Their offer isn't limited to a particular country or a particular type of business - they are soliciting for responses from all over the world:
Part of our goal is to get as many people as possible to work on solutions to our vehicle emissions challenges. We welcome and expect to receive submissions from a wide variety of companies – from cutting edge battery technologies to innovative service businesses - and from companies of all sizes. We also encourage participants from all over the world to submit proposals
$10 million is a drop in the bucket compared to the actual impact energy has worldwide, but it is interesting to see Google seeking to encourage projects like this. They are calling this open approach "mission-focused investing", so Google may have more lofty goals than simply encouraging others to come up with new energy technologies.
You can read the Google blog entry for more.