Aramco Services Company (ASC), the North American arm of Saudi Aramco, and the Massachusetts Institute of Technology (MIT) have entered into a new five-year $25 million collaboration targeting new research and development (R&D).
The research will target the fields of sustainable and renewable energy; advanced materials; carbon capture, utilisation, and storage; environmental sciences; energy storage; water conservation and reuse; advanced materials; and cutting-edge technologies including computational modelling, artificial intelligence, robotics and nanotechnologies.
This new collaboration was reaffirmed at the Innovation to Impact Forum in Boston, in the presence of Saudi Arabia's Crown Prince Mohammed Bin Salman who is on a visit to the US. Aramco became a founding member of MIT Energy Initiative (MITEI) in 2012.
Present during the event was Saudi Aramco President and CEO, Amin H Nasser together with MIT President L Rafael Reif.
Welcoming the strengthening of the existing collaboration, Nasser commented: “We are delighted to be collaborating with MIT which is a distinguished, world-class institution recognized for its groundbreaking research excellence. 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.”
The collaboration underscores a mutual commitment to leveraging R&D to develop new solutions with the potential to address global energy and climate challenges. It also builds on ASC’s existing engagement with MITEI and its Low-Carbon Energy Centers.