Aramco Services Company (ASC), the North American arm of Saudi Aramco, revealed Sunday that it had struck a $25 million-worth five-year research and development (R&D) cooperation agreement with the Massachusetts Institute of Technology (MIT).
The partnership focuses on R&D in the areas of sustainable and renewable energy, advanced materials, carbon capture, utilization and storage, environmental science, conservation and reuse of water resources, and advanced techniques including computational modeling, artificial intelligence, nanotechnologies and robotics.
“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.”
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 Aramco’s existing engagement with MIT Energy Initiative and its Low-Carbon Energy Centers.
