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ExxonMobil to invest up to $100M over 10 years on lower-emissions R&D with US National Labs

ExxonMobil will invest up to $100 million over 10 years to research and to develop advanced lower-emissions technologies with the US Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.

The agreement will foster research collaboration on projects that will advance potential scalable technologies that improve energy efficiency, minimize greenhouse gas emissions, and reduce emissions from the production of fossil fuels and petrochemicals.

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.

Initial work between ExxonMobil and the national laboratories will explore ways to bring biofuels and carbon capture and storage to commercial scale across the power generation, transportation, and manufacturing sectors.

Finding meaningful solutions to address climate change is going to take everyone—governments, companies and academia—working together. 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.

This collaboration is a recent addition to a series of partnerships ExxonMobil has established for innovative lower-emissions research programs. The company has spent more than $9 billion since 2000 developing and deploying lower-emissions energy solutions.

Comments

Paroway

OK, so Exxon alone posted $2.35 Billion (down from $4.65B a year ago) for the FIRST QUARTER of this year. So add Mobil's profits to that. Now they are willing to put approx. 1/2500 of that....spread over TEN YEARS into green washing. Impressive.

Clayton Simpson

Interesting, what reason is pushing ExxonMobil to invest in lower-emissions technologies. My fried Ludivina Ragusa (profile:http://www.innerdesign.com/user/Ludivina-Ragusa) think that it's a deal between ExxonMobil and American government. Maybe it sounds like a conspiracy but I agree with this opinion.

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