Woodside Energy, a HETI founding member, and Rice University announced an exciting partnership aimed to reduce greenhouse gas emissions and accelerate lower-carbon solutions. Throughout the next five years, Woodside Energy will provide $12.5 million to establish the Woodside-Rice Decarbonization Accelerator, an initiative focused on fast-tracking the commercialization of innovative decarbonization technologies created in Rice labs.
The partnership is part of Woodside Energy’s commitment to innovate and invest in the global energy transition by developing a portfolio of scalable new energy products and lower-carbon services that will help meet the world’s growing demand for more reliable, affordable, and sustainable energy. Woodside Energy plans to invest approximately $5 billion in new energy products and lower-carbon services by 2030.
“Net Zero is not a destination but a journey. Over the next 10 years emerging and breakthrough technologies must come to market if society is to meet its climate goals,” said Woodside CEO Meg O’Neill. “We are proud to work with a world-class university like Rice to help meet that challenge.”
“This collaboration is 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,” said Rice University President Reginald DesRoches.
Together, faculty and students from Rice University and leading energy experts from Woodside Energy will work to expedite the development and adoption of promising decarbonization technologies—with a specific focus on manufacturing products derived from captured and converted carbon dioxide and methane. The initiative will also explore cold plasma technology, a unique approach to breaking down carbon dioxide. These innovations have the potential to make better batteries, transistors, and other critical materials for the energy industry.
The accelerator will be led by Paul Cherukuri, Chief Innovation Officer at Rice University and Aditya Mohite, Associate Professor of Chemical and Biomolecular Engineering and Materials Science and Nanoengineering—building on work that Rice University has been doing in advanced materials, energy, energy transition, and climate for many years.
“Energy that is affordable, sustainable, and secure requires innovation and the application of new technology,” said Daniel Kalms, Woodside Executive Vice President of Technical Services. “And that’s what this is about. Collaboration will be the key. By working with researchers, entrepreneurs, leading experts, and parallel industries, we can combine our capabilities to solve collective challenges and create shared opportunities.”
Based in Houston, the Energy Capital of the World, the Woodside-Rice Decarbonization Accelerator provides access to the abundant resources, infrastructure, and leadership needed to develop a portfolio of successful decarbonization technologies, including carbon capture and utilization (CCU) and carbon offsets.
Read the complete media release here.
