Woodside Energy and Rice University have partnered on a decarbonization initiative aiming to move breakthrough technologies from labs to the market, the two announced Jan. 18.
As part of a five-year technology collaboration, Woodside Energy said it will provide $12.5 million to create the Woodside-Rice Decarbonization Accelerator. Plans are for the accelerator to focus on fast-tracking the commercialization of technologies focused on manufacturing products derived from captured CO2 and methane, according to a news release.
“Specifically, Rice hopes to leverage cold plasma technology, a unique approach to breaking down carbon dioxide,” the release states. “These products have potential applications to make better batteries, transistors and other critical materials for energy technologies.”
The partnership formed amid continued global efforts to reduce greenhouse gas emissions and provide lower carbon energy solutions.
“Net Zero is not a destination but a journey,” said Woodside CEO Meg O’Neill. “Over the next 10 years, emerging and breakthrough technologies must come to market if society is to meet its climate goals.”
Rice University President Reginald DesRoches called the collaboration “a testament to the power of merging academic expertise with industry insight and support.”
“Together, we aspire to redefine the future of energy and climate,” he said.
Recommended Reading
BP’s Kate Thomson Promoted to CFO, Joins Board
2024-02-05 - Before becoming BP’s interim CFO in September 2023, Kate Thomson served as senior vice president of finance for production and operations.
Magnolia Oil & Gas Hikes Quarterly Cash Dividend by 13%
2024-02-05 - Magnolia’s dividend will rise 13% to $0.13 per share, the company said.
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
Air Products Sees $15B Hydrogen, Energy Transition Project Backlog
2024-02-07 - Pennsylvania-headquartered Air Products has eight hydrogen projects underway and is targeting an IRR of more than 10%.
HighPeak Energy Authorizes First Share Buyback Since Founding
2024-02-06 - Along with a $75 million share repurchase program, Midland Basin operator HighPeak Energy’s board also increased its quarterly dividend.