- ExxonMobil to be first founding member with five-year commitment
- Company researchers to collaborate with university students and faculty
- Initial focus areas to include bioscience; carbon capture, utilization and storage; water use and recycling
Public Company Information:
SINGAPORE--(BUSINESS WIRE)--ExxonMobil said today that it will contribute US$10 million over five years (S$14 million) to become the first industry founding partner in a new Singapore Energy Center partnership led by the Nanyang Technological University and National University of Singapore and designed to advance next-generation technologies.
ExxonMobil signed a memorandum of understanding with the universities in November 2017 to become a founding member of the center, representing the company’s first such research and development partnership outside the United States. As part of the five-year commitment, faculty and students at the two universities will collaborate with ExxonMobil researchers and scientists, as well as other industry contributors. Research and development projects will be based on university and member input.
Both universities are extending invitations to other leading companies to join the center, fostering interdisciplinary research collaborations between academia and industry.
“The Singapore Energy Center will serve as a focal point for close collaboration between universities and industry in exploring solutions for addressing the dual challenge of meeting society’s growing energy needs while addressing the risks of climate change,” Vijay Swarup, vice president of research and development at ExxonMobil Engineering and Research Company, said at a signing ceremony held during Singapore International Energy Week. “With projected energy demand growth across Asia-Pacific, it’s critical that the public and private sectors work together to advance scalable, next-generation energy technologies while reducing the environmental impact of energy production.”
ExxonMobil will support the center’s wide range of early-stage research projects. Potential projects include applying advances in bioscience and additive manufacturing to discover and develop novel materials and process designs that could lead to new low-emission approaches toward fuel and chemical production; exploring technologies to capture and convert existing carbon dioxide emissions from industrial applications to useful products; using advanced life-cycle assessment and energy systems modeling to explore approaches that could reduce the energy and industrial sectors’ environmental footprint; and investigating technologies that could reduce water and energy consumption during manufacturing, as well as plastic waste.
“ExxonMobil’s participation in the Singapore Energy Center further enhances our technological capabilities in the country, and complements our already strong manufacturing and commercial presence,” said Gan Seow Kee, chairman and managing director of ExxonMobil Asia Pacific Pte Ltd. “Our participation in the company’s first energy center outside of the United States builds on our long and thriving relationship with these two leading universities in Asia.”
ExxonMobil’s support for the Singapore Energy Center 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, and is a founding member of the Stanford Strategic Energy Alliance, MIT Energy Initiative, Princeton E-ffiliates Partnership and University of Texas at Austin Energy Institute.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.
Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including the development and impact of new technologies, could vary depending on the outcome of further research and testing; the development and competitiveness of alternative technologies; the ability to scale research discoveries and pilot projects to commercial levels on a cost-effective basis; political and regulatory developments; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at www.exxonmobil.com.
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