Aramco Services Company (ASC), the North American arm of Saudi Aramco, and the Massachusetts Institute of Technology (MIT) entered into a new five-year $25 million collaboration targeting new research and development (R&D) in fields including sustainable and renewable energy; advanced materials; carbon capture, utilisation and storage.
“We are delighted to be collaborating with MIT which is a distinguished, world class institution recognized for its groundbreaking research excellence," said Saudi Aramco President and CEO, Amin Nasser. "Our engagement with the MIT Energy Initiative is working well and the long term potential for continuing to make significant energy technology breakthroughs is showing considerable promise.”
This new collaboration was reaffirmed at The Innovation to Impact Forum in Boston in the presence of Crown Prince Mohammed Bin Salman who is on a visit to the United States. Aramco became a founding member of MIT Energy Initiative (MITEI) in 2012.
Other ares of collaboration include: environmental sciences; energy storage; water conservation and reuse; advanced materials; and cutting edge technologies including computational modelling, artificial intelligence, robotics and nanotechnologies.
The collaboration underscores a mutual commitment to leveraging R&D to develop new solutions with the potential to address global energy and climate challenges, the firm said. It also builds on ASC’s existing engagement with MITEI and its Low-Carbon Energy Centres.
Aramco Services Company is a US-based subsidiary of Aramco, and supports a wide range of activities from facilitating the safe and reliable delivery of energy to customers around the world to pushing for breakthroughs in research and innovation.