ExxonMobil to Join Stanford Strategic Energy Alliance
March 01 2018 - 9:01AM
Business Wire
- Builds on Global Climate and Energy
Project’s 15 years of success
- Strong science and exploratory research
to develop low-carbon energy solutions
- $20 million commitment in addition to
ExxonMobil’s GCEP investment of more than $100 million
- Expands company’s collaborative work
with academic and research institutions around the world
Exxon Mobil Corporation (NYSE:XOM) today announced that it will
become the first founding member of the new Stanford Strategic
Energy Alliance, an initiative that will examine ways to improve
energy access, security and technology while reducing impacts on
the environment. As part of its commitment, ExxonMobil will
contribute $20 million in funding over five years to research and
develop lower-carbon energy solutions.
The Stanford Strategic Energy Alliance builds on the success of
the Global Climate and Energy Project (GCEP), also led by Stanford,
which focused exclusively on low-emissions, high-efficiency energy
technologies. ExxonMobil has sponsored GCEP since its inception in
2002 with a commitment of $100 million and additional contributions
toward specific projects. In its 15 years of work, GCEP has evolved
into a pioneering collaboration of scientists, engineers,
researchers and students focused on identifying breakthrough low
greenhouse gas emission energy technologies that could be developed
and deployed on a large scale.
“ExxonMobil has worked with Stanford to advance low-carbon
technologies over the last 15 years, and we’re excited to be the
first founding member of this new endeavor,” said Bruce March,
president of the ExxonMobil Research and Engineering Company.
“Identifying scalable solutions for addressing the dual challenge
of supplying energy to meet global demand while minimizing the risk
of climate change is one of our core missions. We are continuously
looking for ways to improve existing supply options and
manufacturing processes while managing carbon intensity.”
Since its creation, GCEP has sponsored more than 100 research
programs in the United States, Europe, Australia, China and Japan,
and has resulted in over 900 papers in leading journals and more
than 1,200 presentations at conferences. Building on fundamental
science, significant advances have been made in the areas of
photovoltaic energy, renewable and lower carbon fossil fuels,
batteries and fuel cells. More than 60 technologies have also been
developed and 15 patents have been issued. Multiple companies have
also started up as a direct result of or inspiration from GCEP
research.
The new Stanford Strategic Energy Alliance will pair industry
alliance members and Stanford professors who share common research
objectives across the spectrum of energy topics from science and
engineering to policy and business. Managed by the Stanford
Precourt Institute for Energy, the alliance will also fund
some early-stage research at the direction of its faculty
leadership.
ExxonMobil’s support for the Stanford Strategic Energy Alliance
expands the company’s collaborative efforts with other academic and
research institutions that are focused on developing an array of
new energy technologies, improving energy efficiency and reducing
greenhouse gas emissions. The company currently works with about 80
universities in the United States, Europe and Asia to explore
next-generation energy technologies, including founding members of
MIT Energy Initiative, Princeton E-ffiliates Partnership and
University of Texas at Austin Energy Institute.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of 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 at
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans and
timing and the impact and results of new technologies, including
efficiency gains and emission reductions, could vary depending on
the outcome of further research and testing; 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.
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