ABB supports green energy research
Swiss-Swedish engineering group ABB has joined forces with a top United States university to promote research in the field of future clean energy technologies.
The five-year, $5 million (SFr5.45 million) collaboration with the Massachusetts Institute of Technology Energy Initiative (MITEI) will cover fields such as nanofluids and intelligent robotics.
In addition, ABB will have a seat on the institute's governing board and will support ten graduate fellowships as well as finance a special fund for innovative early stage energy saving projects.
"New technology is the key to tapping the potential of energy efficiency in the face of soaring demand and increasing environmental concerns," said ABB chief technology officer Peter Terwiesch.
The Zurich-based firm specialises in power and automation technologies, such as transformers and motors, for power plants and the oil, gas, mining and alternative energy sectors. It spends $1.1 billion every year on research and development.
MITEI is an inter-disciplinary initiative that covers supply and demand, security and the environmental impact of the global energy system.
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