GE has announced it will be joining with the MIT Energy Initiative (MITEI) to fund advanced technology solutions to help transform global energy systems. As a Sustaining Member of MITEI, GE will commit a total of $7.5 million over a five-year period ($1.5 million annually) and play an active role in MITEI’s research and project priorities. Specifically, GE will participate in four of MITEI’s Low-Carbon Energy Centers to advance research and development in key technology areas for meeting future energy needs: solar energy; energy storage; electric power systems; and carbon capture, utilization and storage.
“The world will need 50% more power in the next 20 years,” said Steve Bolze, president & CEO of GE Power. “GE and MITEI are proud to work together to find new solutions to develop cleaner, more affordable and accessible energy solutions that will address this need. Together we will leverage our collective capabilities, research and technology solutions to help improve efficiency while reducing the impact of electricity generation on the environment.”
GE will participate in supporting MIT faculty and student research through MITEI. Several GE customers and members working with the initiative include EDF, Exelon Corporation and Duke Energy. MITEI will also bring GE and other members together to connect innovation, business and policy to transform the energy industry.
MITEI’s relationship with GE will engage and involve all of GE’s energy-related businesses: GE Power, GE Renewable Energy, GE Oil & Gas, GE Energy Connections, GE’s Global Research Center, GE Global Growth & Operations, GE Ventures, and Current, powered by GE. Among the many benefits of the membership, GE will sponsor research programs at MITEI, contribute to MITEI’s Seed Fund to support novel and early-stage energy research proposals and participate in several conferences and learning opportunities each year.
The MIT Energy Initiative is MIT’s hub for energy research, education, and outreach. MITEI links world-class academic research teams with industry and government to respond to specific energy challenges. MITEI is establishing eight Low-Carbon Energy Centers to advance R&D in key technology areas for addressing electric power systems; energy bioscience; energy storage; materials for energy and extreme environments; advanced nuclear energy systems; nuclear fusion; and solar energy.
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