GE will join the Massachusetts Institute of Technology’s (MIT) research program, which aims to develop advanced technology solutions to help transform global energy systems.
The firm has committed $7.5m for five-year period for the MIT Energy Initiative (MITEI) and will also become a member of the research.
As part of this effort, GE will participate in four of MITEI’s low-carbon energy centers to advance research and development (R&D) with focus in solar energy, energy storage, electric power systems, and carbon capture, utilization and storage.
GE Power president and CEO Steve Bolze said: “The world will need 50% more power in the next 20 years.
“GE and MITEI are proud to be working 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.”
As part of the new research program, GE will involve its energy-related businesses including power, renewable Energy, oil & gas, energy connections, global research center, global growth & operations, ventures, and Current, powered by GE. .
MITEI director Robert Armstrong said: “GE’s support as a Sustaining Member and engagement in MITEI’s Low-Carbon Energy Centers will be extremely valuable in spurring further technology advancements to address complex energy and climate challenges—areas where GE’s wealth of expertise and history of developing solutions dovetail with MIT’s research.”
Image: GE Power president and CEO Steve Bolze and MIT Energy Initiative director Robert Armstrong. Photo: courtesy of Massachusetts Institute of Technology.