ExxonMobil Invests $100M in Emission Reduction Labs

ExxonMobil promises investment of about $100 million over 10 years in emissions-reduction technologies at some of the nation’s top energy research labs.

Exxon Mobil said the funds will go the U.S. Energy Department’s National Renewable Energy Laboratory and National Energy Technology Laboratory for research into biofuels and carbon capture and storage projects in the power generation, transportation & 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 Exxon Chief Executive Darren Woods. "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.

The funds will be focused on energy efficiency and greenhouse gas reduction projects to help combat the effects of climate change, including reducing emissions from ExxonMobil fuels and petrochemicals production.

"Finding meaningful solutions to address climate change is going to take everyone – governments, companies and academia – working together," said Vijay Swarup, Vice President of Research and Development at ExxonMobil.

Photo: ExxonMobil Chemical Co.

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