Aramco Services Company (ASC), the North American arm of Saudi Aramco; and the Massachusetts Institute of Technology (MIT), has entered into a new 5-year $25 million collaboration targeting new research and development (R&D) in the fields of sustainable and renewable energy; advanced materials; carbon capture, utilization, and storage; environmental sciences; energy storage; water conservation and reuse; advanced materials; and cutting edge technologies including computational modeling, artificial intelligence, robotics and nanotechnologies.
This new collaboration, was reaffirmed at The Innovation to Impact Forum here in Boston, in the presence of HRH Crown Prince Mohammed Bin Salman who is on a visit to the United States. 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.
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.