Investing in Energy Solutions
Technologies don’t currently exist in order to meet future energy demand while reducing emissions across the transportation, industrial and power sectors in meaningful ways.
This partnership promotes innovation and collaboration, which are integral to finding lower-emissions energy solutions that can be deployed on a commercial scale.
The agreement is one of the largest between the Department of Energy’s laboratories and the private sector. It will stimulate collaborative projects between ExxonMobil and the laboratories and facilitate work with other national laboratories.
The investment will further ExxonMobil’s efforts to advance fundamental science, leading to emissions reduction solutions that can be applied globally.
ExxonMobil is investing up to $100 million over 10 years to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.
The joint research supported by this investment will work to develop energy efficient and greenhouse gas mitigation technologies and will also focus on reducing emissions from fuels and petrochemicals production.
This collaboration is one of many partnerships ExxonMobil has established to promote innovative lower-emissions research programs. Thus far, ExxonMobil has partnered with over 80 universities, five energy centers, and multiple private sector partners. Since 2000, the company has spent more than $9 billion to develop and deploy lower-emissions energy solutions.