Ecomagination ads pepper the broadcast of Meet the Press on Sunday mornings. We though that GE just was pulling the wool over our eyes and pretending to actually undertake environmentally endeavors. With surprise we learn that they're bankrolling a $25,000 grant award to some innovative MIT undergrads. The group of students submitted a proposal to the Ecomagination Challenge to fuel the MIT SafeRide and Tech Shuttles with biodiesel fuel made from the fryers in the dining halls. The competition was set up to increase the environmental sustainability of college campuses (and give PR points to GE) and MIT's group won.

With the grant they'll be able to begin the process by purchasing a $15,000 biodiesel processor to do the dirty work of converting the used grease into useful fuel. The green statistics include a 68% reduction in carbon dioxide emissions and complete elimination of sulfur dioxide (the stuff that really stinks.) The project could produce on the scale of 5,000 gallons of fuel per year. Unlike similar biodiesel projects the one at MIT will use solar panels to power the processor. So, it's like, wicked green technology.

The Ecomagination Challenge was co-sponsored by mtvU, which was on campus last week to award the students their prize and take some footage of the prize announcement that will air March 28. What's a prize from mtvU without a concert? Nothing. That's why Angels and Airwaves will play a show at MIT on Earth Day this year.

Image from the ask me about my gas website, though this image on Flickr tagged with "biodiesel" was a close second choice.