Peter Diamandis, chairman and CEO of XPRIZE, announced the start of a new initiative called Shell Ocean Discovery XPRIZE that aims to support the development of technologies for the exploration of the oceans. This new project will be conducted with a competition that will offer prizes for a total of $7 million to the winners to expand the boundaries of our frontiers in the oceans. NOAA (National Oceanic and Atmospheric Administration) will provide an additional prize of $1 million.