"Research shows that biofuels and bioplastics incur less environmental impact than conventional plastics and fuels and are becoming increasingly cost-competitive as petroleum prices rise," said Neil Seldman, President of the Institute for Local Self-Reliance.

"These aren't exotic or expensive technologies," said Bill Shireman, Future 500 President and CEO. "They can be mass produced at prices competitive with petroleum without the global environmental and security costs of fossil fuels. This is especially true with oil approaching $56 per barrel and projected demand to increase to meet exponential growth in China and India."

The SEED initiative, organized by The Future 500, is seeking to drive down petroleum dependence, and its security consequences, by shifting to a new generation of bio-based alternatives, such as bioplastics, biodiesel, and bioethanol.

The initiative finds unusual common ground between often-adversarial corporations and advocates, leveraging recent technology breakthroughs that have dramatically reduced the cost and increased the availability of these alternatives.

"The shift from petroleum-based fuels, fibers, and plastics to renewable and plant-based products is fundamental to our survival. It must be accompanied with other systems shifts such as city design, mass transit, local orientation, and appropriate scale. Together, these system shifts are the bright light on the horizon that we so desperately need to get through these dark times," said Randy Hayes, Director of Sustainability for the Office of Mayor Jerry Brown, City of Oakland.

"I haven't read such an exciting mission vision in years. The objective of SEED, 'to commit the buying power of the Fortune 500 and government agencies to build the technology foundation for the future,' speaks to the real environmental revolution needed today, and that is a revolution in economics. We want to see the purchasing agents of the world lead the way and be the next planetary heroes," said Eric Lombardi, Executive Director of Ecocycle.

SEED endorsers include:

Acterra, AIB Consulting, Bill Coors, Eco-Cycle, Eco-IQ, Edgewood Partners LLC, Future 500, Future 500 Japan, Gary Liss and Associates, Global Exchange, Green Mountain Coffee Roasters, Institute for Local Self-Reliance, Joseph Rinkevich (Commonwealth Biofuels LLC, JPR LLC), Kathryn Blume (Accidental Activist), Mark Moulton (Peninsula Habitat for Humanity), Professor Jin Zhouying (Beijing), Northeast Biodiesel, Propel Fuels, Rainforest Action Network, Randy Hayes (Office of Mayor Jerry Brown, City of Oakland), Rory Bakke, Sea Change, The Next Generation

About SEED: Future 500 is collaborating with a number of organizations, individuals, and companies to coordinate the SEED initiative. The first SEED initiative is focused on available competitive technologies that can hasten transition from a petroleum economy to a bio-economy. Future initiatives will likely focus on renewable energy, hybrid and fuel cell vehicle technologies and sustainable agriculture. www.future500.org/seed

About Future 500: Future 500 forges links between corporations and stakeholders to advance global citizenship. We are leaders in stakeholder engagement, pioneering the tools, strategies and processes that help disparate parties identify common ground, address society's critical problems, and effect lasting, positive change. Future 500 is based in San Francisco and Tokyo, with affiliates in China and Seattle. www.future500.org

About Institute for Local Self-Reliance: ILSR is a non-profit research and educational organization that provides technical assistance and information on environmentally sound economic development strategies. Since 1974, ILSR has worked with citizen groups, governments and private businesses in developing policies that extract the maximum value from local resources. ILSR's Carbohydrate Economy program focuses on new rules, technologies and public awareness of the use of carbohydrates---the building blocks of plant matter---which are converted into chemicals, liquid fuels and building materials. This new material base is cost effective and reduces industrial pollution. www.ilsr.org