Khronos, one of the leading forces in 3D graphics (Khronos Group is an industry consortium creating open standards to enable the authoring and acceleration of parallel computing, graphics and dynamic media on a wide variety of platforms and devices. Khronos standards include OpenGL®, OpenGL® ES, OpenCL™, OpenMAX™, OpenVG™, OpenSL ES™, OpenKODE™, and COLLADA™.
According to the press realease:Google seems also to be connected with this effort according to this news item:
This royalty-free standard will be developed under the proven Khronos development process with a target of a first public release within 12 months. Any interested company is welcome to join Khronos to make contributions, stand for chair, influence the direction of the specification and gain early access to draft specifications before public release. The working group will consider various approaches including exposing OpenGL and OpenGL ES 2.0 capabilities within ECMAScript. The Khronos Accelerated 3D on Web working group will commence work during April 2009. More details on joining Khronos can be found at http://www.khronos.org/members/