FedEx Chairman and CEO Fred Smith gave a speech at the ARPA-E Energy Innovation Summit extolling energy innovations that are reducing the country's dependence on imported oil. Smith mentioned "exciting developments" in vehicle electrification, the use of natural gas in the transport sector and the possibility of producing "highly efficient biofuels" for the aviation industry. "We [at FedEx] are very supportive of ARPA-E and the leverage that it offers for conceptual breakthroughs ... between the lab and commercialization," Smith said.

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