ExxonMobil to Invest in MIT Energy Initiative to Advance Energy Science and Technology Research
November 03 2014 - 9:00AM
Business Wire
Company joins initiative as a Founding
Member
- ExxonMobil to invest $25 million
dollars during the next five years to support faculty and student
research efforts
- Work will focus on new energy sources
and more efficient use of conventional energy resources
- MIT to establish 10 ExxonMobil Energy
Fellows each year for graduate students
ExxonMobil has signed an agreement to become a founding member
of the MIT Energy Initiative (MITEI), a unique collaboration aimed
at working together to advance and explore the future of energy.
MIT President Rafael Reif and TJ Wojnar, Jr., president of
ExxonMobil Research and Engineering Company (EMRE), launched the
collaborative effort during a ceremony at MIT.
“At MIT, we find that working closely with industry alerts us to
real-world problems and opportunities for progress. There is simply
no better way to ensure that our research has an impact in the
world,” said MIT President Rafael Reif. “That concept is at the
heart of our long and successful relationship with ExxonMobil. In
choosing to join MITEI, ExxonMobil is increasing the scope and
breadth of our collaboration, demonstrating a strong commitment
that intensifies our shared focus on inventing the future of energy
technologies.”
“ExxonMobil has had a long and productive relationship with the
outstanding faculty and students at MIT. This new agreement will
enable us to explore new ideas and new areas of research by
partnering with some of the brightest researchers across a wide
range of disciplines,” said Wojnar. “If we are going to continue to
meet the world’s growing energy demand, we need to leverage
partnerships such as this one with MITEI to help find efficient,
scalable and responsible ways to bring affordable energy to global
markets.”
Through this new agreement, ExxonMobil will collaborate with MIT
on a wide range of projects, including research to improve and
expand renewable energy sources and find more efficient ways to
produce and use conventional hydrocarbon resources. The agreement
will also be utilized to establish 10 graduate energy fellowship
appointments each year at MIT (ExxonMobil Energy Fellows). These
fellowships will support operating costs and expenses for talented
graduate students while they pursue their selected areas of study
and research.
At the core of ExxonMobil’s businesses are several key research
organizations that work collaboratively on new technologies.
ExxonMobil conducts cutting-edge R&D through a combination of
in-house efforts, collaborations with industry partners, and
sponsored research at academic and nongovernmental institutions.
This latest investment significantly increases its long-term
partnership with MIT and is part of a larger, ongoing effort by the
company to explore early stage innovative projects through
partnerships with other leading universities around the world.
“The MIT Energy Initiative is a great example of a
university-industry collaboration that is searching for
technological solutions to the world’s current and future energy
challenges. Access to reliable and abundant sources of energy is
and will continue to be essential for societal progress,” said
Wojnar.
About the MIT Energy Initiative (MITEI)
The MIT Energy Initiative (MITEI) links science, innovation, and
policy to transform the world’s energy system. As MIT’s energy hub,
researchers from across the Institute work with government and
industry to identify tomorrow’s energy challenges, develop
cutting-edge solutions, and implement change by bringing new
approaches to policy makers and new technologies to the
marketplace. Through research, education, and outreach, the
Initiative’s interdisciplinary approach covers all areas of the
energy spectrum – from supply and demand to security and
environmental impact. This work has been made possible largely
through strategic alliances with companies across a broad range of
energy-related businesses, as well as government and philanthropic
support. For more information, visit: http://mitei.mit.edu.
About ExxonMobil Research and Engineering Company
ExxonMobil Research and Engineering Company (EMRE) is Exxon
Mobil Corporation’s (NYSE: XOM) global fuels and lubricants
research and development team. With locations in 24 countries
around the world, the company’s scientists, chemists and engineers
are pursuing energy innovations to help improve the quality of life
and drive economic growth and advancement throughout the world. In
addition to its day-to-day research and development efforts, EMRE
is also home to ExxonMobil’s corporate strategic research team that
is focused on long-term technical leadership and creating strategic
science-based opportunities. EMRE also licenses technologies
that provide significant value while improving safety, reliability
and energy efficiency. For more information, visit:
www.exxonmobil.com.
ExxonMobilChristian Flathman, 703-846-4467orMITVicki Ekstrom,
617-253-3411
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