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Investment builds upon decades of research at University of Texas
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To take advantage of capabilities in renewable energy, battery
technologies and power grid modeling
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ExxonMobil established similar energy partnerships at other
universities
AUSTIN, Texas--(BUSINESS WIRE)--Aug. 2, 2016--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160802005604/en/
Source: Exxon Mobil Corporation
ExxonMobil
Media Relations, 832-625-4000
or
University of
Texas
Media Relations, 512-585-2084
