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Posted: Oct 14, 2010
MIT Energy Initiative to receive $25 million to fund research and collaboration
(Nanowerk News) Shell and the Massachusetts Institute of Technology (MIT) today signed an agreement to invest $25 million in the research and development of high value, sustainable technologies designed to drive innovation in energy delivery.
"Both Shell and MIT are globally recognized innovation leaders. This collaboration accents Shell's commitment to develop new technologies and drive innovative solutions to address the global energy challenge," said Gerald Schotman, chief technology officer, Royal Dutch Shell. "Our collaboration with MIT will form another important building block in strengthening Shell's global technology leadership."
Gerald Schotman, chief technology officer, Royal Dutch Shell, right, signs the agreement with MIT President Susan Hockfield.
Beginning this year, the research agreement will fund a suite of projects at $5 million per year for the coming five years. Those projects will focus on advanced modeling, earth science, biofuels, nanotechnology and carbon management.
"The lack of access to affordable energy poses a significant barrier to economic advancement around the globe. Together with the rapidly accelerating demand for energy, the need to develop environmentally sensitive and sustainable energy resources becomes increasingly acute. Our collaboration with Shell will drive energy innovations with the potential for significant, real-world impact," said Susan Hockfield, president, MIT.
As part of its longer-term focus, the collaboration will address future and emerging technologies that demonstrate game-changing potential for the energy industry. The collaboration will focus on a broad array of existing and new oil and gas technologies, including next-generation applications in nanotechnology, biochemistry, electronics and computer modeling. Other focus areas will include research into water treatment improvements, greater fuel efficiency, new solar energy applications and enhanced catalytic technology for advanced fuel cells and smart grids. Shell and MITEI aim to develop novel sensors to detect physical and chemical properties under extreme and remote conditions.
"Shell has earned a reputation for advancing a broad portfolio of important energy technologies and for a long-term view of how the global energy system will and should evolve," said Professor Ernest J. Moniz, director of MIT Energy Initiative. "We are excited about this opportunity to significantly expand our research and education collaboration."