This new collaboration will boost ExxonMobil's research programs with more than 80 universities, five energy centers and multiple private sector partners. The company has spent $10 billion since 2000 developing and deploying lower-emissions energy solutions.

In light of this agreement, Vijay Swarup, vice president of research and development at ExxonMobil Research and Engineering Company stated

These agreements will give us a better understanding of how to progress and apply technologies in India, and develop breakthrough lower-emissions solutions that can make a difference globally.

Indian Institute of Technology (IIT) Madras is a public engineering institute located in Chennai, Tamil Nadu and has been ranked as India’s top engineering institute for the fourth consecutive year by India’s Ministry of Human Resource Development. IIT Bombay is a public engineering institute located in Powai, Mumbai and is widely recognized as a leader in engineering, education and research. The IIT system has 23 institutes, each of which is autonomous and linked through a common council, which oversees their administration.

Overall, ExxonMobil is thriving towards sustainability, as in summer it introduced its 2020 compliant fuels range, which have already have passed fit-for-use assessments, in order to ensure that they are safe and efficient when they switch to low sulphur fuels.