ExxonMobil Supports Development of Emerging Technologies at University of Texas at Austin Energy Institute
August 02 2016 - 9:05AM
Business Wire
- Investment builds upon decades of
research at University of Texas
- To take advantage of capabilities in
renewable energy, battery technologies and power grid modeling
- ExxonMobil established similar energy
partnerships at other universities
ExxonMobil announced today that it will invest $15 million as a
leadership member of the University of Texas at Austin Energy
Institute to pursue technologies to help meet growing energy demand
while reducing environmental impacts and the risk of climate
change.
The joint research initiative will study transformational energy
innovations including integrating renewable energy sources into the
current supply mix and advancing traditional energy sources in ways
that improve efficiency and reduce impacts on water, air and
climate.
Research projects are expected to cover a range of emerging
technologies, and will take advantage of the university’s
capabilities in renewable energy, battery technologies and power
grid modeling. Core strengths in advanced computing, environmental
management, and additive manufacturing may be applied to improve
the efficiency of delivering traditional energy sources.
“The University of Texas at Austin has extensive experience and
expertise in identifying innovative energy technologies,” said Sara
Ortwein, president of ExxonMobil Upstream Research Company.
“Our scientists and engineers look forward to collaborating with
UT’s faculty and students through the Energy Institute to develop
breakthrough technologies that can help reduce emissions.”
The University of Texas at Austin Energy Institute fosters
interdisciplinary study of critical energy questions, leveraging
expertise across several schools and colleges, including the
Jackson School of Geosciences, Cockrell School of Engineering and
College of Natural Sciences. This strategic engagement will utilize
an umbrella agreement framework to facilitate collaborative
research between ExxonMobil and the university.
“The University of Texas at Austin is proud and deeply
appreciative of its long history of collaboration in education and
research with ExxonMobil,” said Gregory L. Fenves, president of the
university. “This investment further unites two of the world's
leading energy organizations to pursue innovations for a better
energy future.”
ExxonMobil is an industry leader in carbon capture and storage
technology and will expand its collaboration with the university’s
Gulf Coast Carbon Center, a multidisciplinary group that has
specialized in geological sequestration of carbon dioxide since
1998. This research will complement ExxonMobil’s recently announced
partnership with FuelCell Energy, Inc. to advance carbonate fuel
cell technology to enhance the affordability of carbon capture from
natural gas-fueled power plants.
ExxonMobil has collaborated with more than 80 universities
worldwide in researching breakthrough energy technologies. Last
year, the company joined Princeton’s E-filliates Partnership, a
corporate affiliates program administered by Princeton University’s
Andlinger Center for Energy and the Environment. E-ffiliates
fosters collaboration with industry in pursuing energy and
environmental innovation. ExxonMobil committed $5 million over five
years, the largest financial commitment the program had received.
In 2014, ExxonMobil became a founding member of the Massachusetts
Institute of Technology Energy Initiative, investing $25 million
over five years toward research and graduate-level energy
fellowships.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, is a leader in developing and applying technology to
overcome global energy challenges. ExxonMobil holds an
industry-leading inventory of energy resources, is among the
largest refiners and marketers of petroleum products and its
chemical company is one of the largest in the world. For more
information, visit www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including the impact of new
technologies could vary depending on the outcome of further
technology research and development efforts; the development and
competitiveness of alternative technologies; the ability to scale
pilot projects on a cost-effective basis; political and regulatory
developments; and other factors discussed in this release and under
the heading “Factors Affecting Future Results” on the Investors
page of ExxonMobil’s website at exxonmobil.com.
About The University of Texas at Austin
The University of Texas at Austin has long been a global leader
in energy education and research. The university has Top 10-ranked
energy programs in engineering, geoscience, business, law and
public policy. The UT Austin Energy Institute fosters
interdisciplinary interactions across the campus and is dedicated
to broadening the educational experience of students by creating a
community of scholars around energy issues of importance to Texas,
the nation and the world.
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