Saudi Basic Industries Corp. (SABIC) has signed an initial agreement with the Massachusetts Institute of Technology (MIT) for fields including unconventional feedstocks, the groups said on Thursday.
The agreement paves the way for SABIC and MIT to work together to develop new practical innovation for the companys solutions and processes in order to meet global needs from developing unconventional feedstocks to innovating new material solutions, SABIC said in a statement.
The agreement was signed in Boston by Ernesto Occhiello, SABIC executive vice president for technology and innovation, and Professor Klavs F. Jenssen, head of chemical engineering at MIT.
This agreement marks a starting point for collaboration between SABIC and MIT," said Occhiello.
"SABIC will be able to and tap into MITs multidisciplinary research capabilities to achieve research excellence," he added. "Along with focusing on the important areas of developing unconventional feedstock and innovative new material solutions, SABIC will also focus on innovating in multiple parts of the energy equation."
This future collaboration will also allow SABIC researchers to work with world-class teams of scientists at MIT in the respective joint research areas.
SABIC has similar research relationships with Cambridge University in the UK, the Dalian Institute of Chemical Physics in China, ETH Zurich in Switzerland, the National Research Council in Italy and the Fraunhofer-Gesellschaft in Germany.