The MIT Energy Initiative (MITEI) has announced that GE will be joining as a sustaining member to fund advanced technology solutions to help transform global energy systems. 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, utilisation and storage.
“The world will need 50 per cent more power in the next 20 years,” said 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’ll be able to 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, while MITEI will 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. GE will also sponsor research programs at MITEI, contribute to MITEI’s Seed Fund to support energy research proposals, and participate in several conferences and learning opportunities each year.