ExxonMobil to Join Stanford Strategic Energy Alliance

March 1, 2018
  • Builds on Global Climate and Energy Project’s 15 years of success
  • Strong science and exploratory research to develop low-carbon energy
    solutions
  • $20 million commitment in addition to ExxonMobil’s GCEP investment of
    more than $100 million
  • Expands company’s collaborative work with academic and research
    institutions around the world

IRVING, Texas–(BUSINESS WIRE)–Exxon
Mobil Corporation (NYSE:XOM) today announced that it will become the
first founding member of the new
Stanford Strategic Energy Alliance, an initiative that will examine
ways to improve energy access, security and technology while reducing
impacts on the environment. As part of its commitment, ExxonMobil will
contribute $20 million in funding over five years to research and
develop lower-carbon energy solutions.

The Stanford Strategic Energy Alliance builds on the success of the Global
Climate and Energy Project (GCEP), also led by Stanford, which
focused exclusively on low-emissions, high-efficiency energy
technologies. ExxonMobil has sponsored GCEP since its inception in 2002
with a commitment of $100 million and additional contributions toward
specific projects. In its 15 years of work, GCEP has evolved into a
pioneering collaboration of scientists, engineers, researchers and
students focused on identifying breakthrough low greenhouse gas emission
energy technologies that could be developed and deployed on a large
scale.

“ExxonMobil has worked with Stanford to advance low-carbon technologies
over the last 15 years, and we’re excited to be the first founding
member of this new endeavor,” said Bruce March, president of the
ExxonMobil Research and Engineering Company. “Identifying scalable
solutions for addressing the dual challenge of supplying energy to meet
global demand while minimizing the risk of climate change is one of our
core missions. We are continuously looking for ways to improve existing
supply options and manufacturing processes while managing carbon
intensity.”

Since its creation, GCEP has sponsored more than 100 research
programs in the United States, Europe, Australia, China and Japan,
and has resulted in over 900 papers in leading journals and more than
1,200 presentations at conferences. Building on fundamental science,
significant advances have been made in the areas of photovoltaic energy,
renewable and lower carbon fossil fuels, batteries and fuel cells. More
than 60 technologies have also been developed and 15 patents have been
issued. Multiple companies have also started up as a direct result of or
inspiration from GCEP research.

The new Stanford Strategic Energy Alliance will pair industry alliance
members and Stanford professors who share common research objectives
across the spectrum of energy topics from science and engineering to
policy and business. Managed by the Stanford
Precourt Institute for Energy, the alliance will also fund some
early-stage research at the direction of its faculty leadership.

ExxonMobil’s support for the Stanford Strategic Energy Alliance expands
the company’s collaborative efforts with other academic and research
institutions that are focused on developing an array of new energy
technologies, improving energy efficiency and reducing greenhouse gas
emissions. The
company currently works with about 80 universities in the United States,
Europe and Asia to explore next-generation energy technologies,
including founding members of MIT
Energy Initiative, Princeton
E-ffiliates Partnership and University
of Texas at Austin Energy Institute.

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world’s growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources, is one of the largest refiners and marketers of petroleum
products, and its chemical company is one of the largest in the world.
For more information, visit www.exxonmobil.com
or follow us on Twitter at www.twitter.com/exxonmobil.

Cautionary Statement: Statements of future
events or conditions in this release are forward-looking statements.
Actual future results, including project plans and timing and the impact
and results of new technologies, including efficiency gains and emission
reductions, could vary depending on the outcome of further research and
testing; the development and competitiveness of alternative
technologies; the ability to scale pilot projects on a cost-effective
basis; political and regulatory developments; and other factors
discussed in this release and under the heading “Factors Affecting
Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.

Contacts

ExxonMobil
Media Relations, 972-940-6007