Saudi Aramco’s North American arm and Massachusetts Institute of Technology (MIT) signed a 5-year US$25 million research and development collaboration.
Aramco Services Company (ASC) will work on R&D with MIT in 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.
Aramco became a founding member of MIT Energy Initiative (MITEI) in 2012.
“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,”
Saudi Aramco president and CEO, Amin H. Nasser said in a statement.
“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 Centres,” he added.
The deal, signed with MIT President L. Rafael Reif, was reaffirmed at The Innovation to Impact Forum in Boston, in the presence of HRH Crown Prince Mohammed Bin Salman who is on a visit to the United States.