ExxonMobil announced that it will invest $100 million in ten years in favour of research and develop advanced lower emissions technologies with the US Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.
Specifically, the agreement will boost research and partnership on setting biofuels, carbon capture and storage to commercial scale in the sectors of transportation, power generation and industrial ones.
This collaboration is a recent addition to a series of partnerships ExxonMobil established for innovative lower-emissions research programs, which includes over 80 universities, five energy centres, and multiple private sector partners.
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The company stated that it has laready provided $9 billion since 2000 in developing and deploying lower-emissions energy solutions.
Darren W. Woods, chairman and CEO of ExxonMobil commented that the company focuses on elevating science with the aim of developing solutions that will have a significant impact in reducing emissions.
Concluding, this collaboration consists of ExxonMobil, the US Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory and other national laboratories such as the Idaho National Lab.