In an effort to fund advanced technology solutions to help transform global energy systems, GE is joining the MIT Energy Initiative (MITEI), the Massachusetts Institute of Technology’s hub for energy research, education and outreach.
As a sustaining member of MITEI, GE says it 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 percent more power in the next 20 years,” comments Steve Bolze, president and CEO of GE Power. “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.”
GE will participate in supporting MIT faculty and student research through MITEI. Several GE customers are also members working with the initiative, including EDF, Exelon Corp. and Duke Energy.
MITEI’s relationship with GE will 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 (which is powered by GE).
GE moved its global headquarters to Boston last week: The company moved into an interim space as it works to develop and build its new global headquarters campus in Boston’s Fort Point neighborhood in 2018. Now, this latest announcement continues GE’s investment and engagement in the Boston area, the company notes.