LAKE HAVASU, AZ--(MARKET WIRE)--Oct 30, 2008 -- Physics Lab of Lake Havasu today announced its acceptance into the multimillion dollar Progressive Insurance Automotive X PRIZE, a competition designed to inspire a new generation of viable, super fuel-efficient vehicles to offer more consumer choices.

Physics Lab of Lake Havasu was among the first to submit its registration application, an important step towards ensuring that it is at the starting line when the cross country stage race competition kicks off next year. Final confirmation of Physics Lab of Lake Havasu's Registered Team status is pending their signature of a Master Team Agreement (MTA) upon its release later this year.

Physics Lab of Lake Havasu is led by automotive enthusiast and physician, Jim Stansbury, who directs a team of industry leaders in their respective trades. The team is comprised of mechanics, electricians, fabricators, a race vehicle manufacturer, an engineer, and an inventor. The focus of the team's technology is cheap, renewable, clean propulsion. These technologies include waste heat engines, steam, hydrogen, thermal hydraulics, and a proprietary regenerative suspension system, all applied to charge batteries for electric vehicles.

Physics Lab of Lake Havasu will next be on display at the 2008 SEMA Show in Las Vegas, from November 4-7. The team will be at the Regen EV Shocks booth# 31215, where they will showcase their proprietary suspension and some of the other technologies they plan to include in their power/propulsion system.

To date, more than 120 teams from 28 states and 17 countries have signed letters of intent to compete for their share of the $10 million prize purse, funded by Progressive, which will be awarded to those that can design and build production-capable, 100 MPGe (miles per gallon energy equivalent) vehicles that people will want to buy and that meet market needs for price, size, capability, safety and performance.

With registration now officially open, many of those 100+ teams are actively working on their applications to become official competitors of the Progressive Automotive X PRIZE. Those who pass this first round of qualification, as Physics Lab of Lake Havasu now has, will move into the next phase of competition, which includes a dramatic cross country stage race set to begin next September.

"We congratulate Physics Lab of Lake Havasu on its continued commitment to developing super fuel efficient vehicles," noted Don Foley, Executive Director of the Progressive Automotive X PRIZE. "While there's still much to be accomplished before reaching that starting line in New York City, we're pleased to see that they have taken this important step in the process."

Once registration closes at the end of this year, and the field of competition is in place, qualified competitors will begin preparing for a rigorous cross country stage race that will combine speed, distance, urban driving and overall performance. The race is set to kick off in New York City in September 2009, and will continue in up to nine other cities throughout the U.S. Winners will be announced in 2010.

About Physics Lab of Lake Havasu:

The goal of Physics Lab of Lake Havasu is to provide auto manufacturers with retrofit technologies in order to achieve mainstream goals of more than 100 mpg on familiar brand name automobiles, and trucks. The company takes extreme examples of vehicles in order to push the envelope of vehicle applications. Heavy vehicle retrofits demonstrate the potential for larger scale vehicles, as well as scaled down compact cars. All this to achieve cheap, clean propulsion for vehicles from compacts to RV's and semi-tractors, made in America.

For more information about Physics Lab of Lake Havasu please visit PhysicsLabLH.com or email Jimstansbury@mac.com

About the Progressive Automotive X PRIZE Competition:

The goal of the Progressive Automotive X PRIZE, a project of the X PRIZE Foundation, is to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. Ten million dollars in prizes will 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 on affordability, safety, and the environment. It is about developing real, production-capable cars that consumers want to buy, not science projects or concept cars. This progress is needed because today's oil consumption is unsustainable and because automotive emissions significantly contribute to global warming and climate change.

For more information about the Progressive Automotive X PRIZE, please visit www.progressiveautoxprize.org or email progressiveautopress@xprize.org.

About Progressive:

Progressive, founded in 1937, is one of the country's largest auto insurance groups and a leading insurer of motorcycles, recreation vehicles, boats, and commercial vehicles. The Company offers competitive rates and innovative products and services that meet drivers' needs throughout their lifetimes 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 than 27,000 people, it simply means seeking constant improvement. Over time, this has meant introducing revolutionary ideas that make car insurance easier to shop for, buy and use. It's this same innovative spirit that's behind the Company's sponsorship of the Progressive Automotive X PRIZE. The Progressive Automotive X PRIZE will inspire innovation that will produce more fuel efficient vehicle choices, helping to make a difference in people's lives.

Progressive's products and services are available locally through more than 30,000 independent insurance agencies in the U.S., online at http://www.progressive.com and by phone at 1-800-PROGRESSIVE (1-800-776-4737).

     Contacts:
     Jim Stansbury
     928-855-4663
     jimstansbury@mac.com
      
     Carrie Fox
     202.255.9214
     Carrie.Fox@xprize.org