EcoSphere Technologies Inc. (fka ESPHQ)

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What is the Wendy Schmidt Oil Cleanup X CHALLENGE?

It is a $1.4 Million competition designed to inspire a new generation of innovative solutions that will speed the pace of cleaning up seawater surface oil resulting from spillage from ocean platforms, tankers, and other sources.

This X CHALLENGE, announced on July 29, 2010, is a one-year competition that begins on August 1, 2010 and culminates in the summer of 2011, with head-to-head competitive demonstrations taking place at the National Oil Spill Response Research & Renewable Energy Test Facility (OHMSETT) in Leonardo, New Jersey, USA (www.ohmsett.com).

A $1 Million Prize will be awarded to the team that demonstrates the ability to recover oil on the sea surface at the highest oil recovery rate (ORR) and the highest Recovery Efficiency (RE).
http://iprizecleanoceans.org/Page/Home
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http://www.huffingtonpost.com/2010/07/29/x-prize-oil-cleanup-chall_n_663668.html