Energy major ExxonMobil has announced that it has entered into a Memorandum of Understanding (MoU) with the Indian Institute of Technology, specifically at its Bombay and Madras locations, to further research into low-emission and other green technologies.
Under the five-year agreement, ExxonMobil will partner its own research with the expertise in the participating Indian institutions. It will concentrate primarily on furthering technologies like low-emission innovations for industry and power generation, the environment and the climate, the transportation and conversion of gas, and the production of biofuels and other bio-based products.
ExxonMobil Research and Engineering Company’s vice president of research and development, Vijay Swarup, said about the development:
“These agreements will give us a better understanding of how to progress and apply technologies in India, and develop breakthrough lower-emissions solutions that can make a difference globally.”
Speaking for IIT Bombay, the dean of research and development, Professor Milind Atrey, said the institute appreciates its association with ExxonMobil and the underlying reason for it, adding that:
“We are sure that this relationship will be long lasting and yield fruitful results.”
ExxonMobil, which also distributes Mobil-branded lubricants like Mobiltherm 605 to the Indian market, has an existing relationship with IIT Bombay. Together with the Council for Energy, Environment and Water, an Indian think tank, they studied the lifetime greenhouse gas emissions associated with India’s future power needs. They found that importing and using liquefied natural gas from the US would involve 54% less overall emissions than burning domestically produced coal to generate electricity.