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From Gizmag Emerging Technology Magazine:
Even before entering the Progressive Automotive X-Prize competition, Jack McCormack had started to pull together all the things needed to knock out a sporty two-seater car capable of achieving 100 miles per gallon. Fueled by the desire to make his creation a template for others to repeat and determined to bring it together within a strict budget, the race was on to bring MAX into the world - a Lotus Seven replica which just happens to run on vegetable oil.
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