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World Oil: ExxonMobil to invest up to $100 million on lower-emissions R&D with U.S. national labs


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World Oil: ExxonMobil to invest up to $100 million on lower-emissions R&D with U.S. national labs

Business

Category: Business and Investment News

IRVING — ExxonMobil has 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 CEO 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.”

Source: World Oil

Published: May 8, 2019