ExxonMobil recently confirmed that it has agreed to a five-year partnership with Princeton University, which will see the oil giant donate millions to the US institution over that period.
The team-up was first announced by Princeton through a statement, which indicated that it will focus on facilitating research into energy demand, concentrating on environmentally aware issues.
It is all connected with the Princeton E-ffiliates Partnership, which is a worldwide energy-centred collaboration project, involving numerous energy experts based within the university and elsewhere.
The $5m (£3.2m) that ExxonMobil has committed is the largest single sum provided by any firm since the project was first launched, the press release from Princeton stated.
Under the terms of the agreement, ExxonMobil, which has become a global leader in the field of lubricants thanks to products like Mobil DTE Light and Mobilith SHC PM 460, will be working on relevant projects alongside research teams made up of postdoctoral researchers and graduates.
Quoted in the university’s press release, ExxonMobil Engineering and Research Company’s development and research vice president, Vijay Swarup, said:
“This investment is a part of ExxonMobil’s broad commitment to partner with the best and brightest universities to research and discover next-generation energy solutions. Our goal is to find meaningful and scalable solutions to meet global energy demand.”
It was also stated that the partnership would enable ExxonMobil’s corporate units to use the different departments within Princeton for carrying out environmental and energy-related research projects, both in the short and the long term.