ExxonMobil Investing $15 Million Into University Of Texas Emerging Technology Development
The fossil fuel giant ExxonMobil will be investing $15 million into the University of Texas at Austin Energy Institute to support its emerging technology development program, according to a new press release from ExxonMobil.
The investment will be used to fund joint research initiative projects intended to develop technologies or approaches to “help meet growing energy demand while reducing environmental impacts and the risk of climate change.”
These projects will include those centered around the integration of renewable energy generation capacity into the supply mix, as well as the improvement of “traditional” energy generation technology efficiency and environmental impact reduction. The press release states that the intent is specifically to reduce impacts on air quality, water quality, water availability, and the broader climate.
“The University of Texas at Austin has extensive experience and expertise in identifying innovative energy technologies,” stated Sara Ortwein, president of ExxonMobil Upstream Research Company.
Ortwein continued: “Our scientists and engineers look forward to collaborating with UT’s faculty and students through the Energy Institute to develop breakthrough technologies that can help reduce emissions.”
The press release provides a bit more: “Research projects are expected to cover a range of emerging technologies, and will take advantage of the university’s capabilities in renewable energy, battery technologies and power grid modeling. Core strengths in advanced computing, environmental management, and additive manufacturing may be applied to improve the efficiency of delivering traditional energy sources.”
And some background: “The University of Texas at Austin Energy Institute fosters interdisciplinary study of critical energy questions, leveraging expertise across several schools and colleges, including the Jackson School of Geosciences, Cockrell School of Engineering and College of Natural Sciences. This strategic engagement will utilize an umbrella agreement framework to facilitate collaborative research between ExxonMobil and the university.”
The university no doubt appreciates the funding, but we’ll have to wait to see if anything practical (not just good PR) comes from it. I’ll now let our wonderful CleanTechnica readers chime in on exactly what you think of ExxonMobil’s $15 million announcement….
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