ExxonMobil Commits $20M to Research Lower-Carbon Energy Solutions
IRVING, Texas — ExxonMobil is putting money into the research and development of lower-carbon energy solutions as it becomes the first founding member of the Stanford Strategic Energy Alliance.
The alliance is an initiative that will examine ways to improve energy access, security and technology while reducing impacts on the environment. As part of its commitment, ExxonMobil will contribute $20 million in funding over five years for research and development.
The Stanford Strategic Energy Alliance builds on the Global Climate and Energy Project (GCEP), also led by Stanford, which focused exclusively on low-emissions, high-efficiency energy technologies. ExxonMobil has sponsored GCEP since its inception in 2002 with a commitment of $100 million and additional contributions toward specific projects.
In its 15 years of work, GCEP has evolved into a pioneering collaboration of scientists, engineers, researchers and students focused on identifying breakthrough low greenhouse gas emission energy technologies that could be developed and deployed on a large scale.
"ExxonMobil has worked with Stanford to advance low-carbon technologies over the last 15 years, and we're excited to be the first founding member of this new endeavor," said Bruce March, president of the ExxonMobil Research and Engineering Co.
"Identifying scalable solutions for addressing the dual challenge of supplying energy to meet global demand while minimizing the risk of climate change is one of our core missions," March added. "We are continuously looking for ways to improve existing supply options and manufacturing processes while managing carbon intensity."
Since its creation, GCEP has sponsored more than 100 research programs in the United States, Europe, Australia, China and Japan, and has resulted in more than 900 papers in leading journals and more than 1,200 presentations at conferences.
Building on fundamental science, significant advances have been made in the areas of photovoltaic energy, renewable and lower carbon fossil fuels, batteries and fuel cells. More than 60 technologies have also been developed and 15 patents have been issued. Multiple companies have also started up as a direct result of or inspiration from GCEP research.
The new Stanford Strategic Energy Alliance will pair industry alliance members and Stanford professors who share common research objectives across the spectrum of energy topics from science and engineering to policy and business.
Managed by the Stanford Precourt Institute for Energy, the alliance will also fund some early-stage research at the direction of its faculty leadership.
ExxonMobil's support for the Stanford Strategic Energy Alliance expands the company's collaborative efforts with other academic and research institutions that are focused on developing an array of new energy technologies, improving energy efficiency and reducing greenhouse gas emissions. The company currently works with about 80 universities in the United States, Europe and Asia to explore next-generation energy technologies, including founding members of MIT Energy Initiative, Princeton E-ffiliates Partnership and University of Texas at Austin Energy Institute.
Irving-based ExxonMobil is the largest publicly traded international oil and gas company.