ExxonMobil to invest up to $100M on lower-emissions R&D

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said it will invest up to $100 million over 10 years to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.

The agreement – among the largest between the department’s laboratories and the private sector – will support research and collaboration into ways to bring biofuels and carbon capture and storage to commercial scale across the transportation, power generation and industrial sectors.

“We’re focusing on advancing fundamental science to develop breakthrough solutions that can make a difference on a global basis in emissions reduction,” said Darren W. Woods, chairman and chief executive officer of ExxonMobil. “We’re doing that with our in-house scientists and with corporate partners, through relationships with 80 universities and now with the intellectual and computing capacity of the renowned national labs.”

The partnership will work to develop technologies related to energy efficiency and greenhouse gas mitigation. The joint research will also focus on reducing emissions from fuels and petrochemicals production. The agreement will stimulate collaborative projects between ExxonMobil and the two laboratories and facilitate work with other national laboratories, such as the Idaho National Lab.

“Finding meaningful solutions to address climate change is going to take everyone – governments, companies and academia – working together,” said Vijay Swarup, vice president of research and development at ExxonMobil Research and Engineering Company. “This agreement will help us advance fundamental science and demonstrate scale. This is critical because it will give us a better understanding of how to progress technologies so they can be applied globally.”

“The National Renewable Energy Laboratory is excited to work with ExxonMobil to develop scalable energy solutions for the future and facilitate research partnerships across the national lab system,” said Martin Keller, director at the National Renewable Energy Laboratory. “Our partnerships with industry, government, academia and other research organizations drive the collaboration and innovation that is integral to revolutionizing the global energy landscape. By working side-by-side with ExxonMobil researchers, this partnership provides an unprecedented opportunity to explore new technologies and transform energy through science.”

This collaboration is a recent addition to a series of partnerships ExxonMobil has established for innovative lower-emissions research programs, which includes over 80 universities, five energy centers and multiple private sector partners. The company has spent more than $9 billion since 2000 developing and deploying lower-emissions energy solutions.

“This opportunity targets research challenges and the development of technology central to our mission and our capabilities,” said Brian Anderson, director at the National Energy Technology Laboratory. “We’re bringing incredible research capability, enhanced by ExxonMobil’s industry expertise and ability to scale-up new technologies globally, which will ultimately benefit consumers in the near term, while also enhancing our nation’s prosperity and energy security.”

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