BP RENEWS COMMITMENT TO MIT WITH SECOND $25 MILLION PLEDGE

(The following is a reformatted version of a press release
issued by BP and received via e-mail. The release was confirmed
by the sender.) 
BP Renews Commitment to MIT with Second $25 Million Pledge 
Company to provide $5 million a year to support continued
energy-related research activities at the Massachusetts
Institute of Technology 
26 October 2012 
BP announced today that it is renewing its commitment to the
Massachusetts Institute of Technology Energy Initiative (MITEI)
through an agreement to provide another $25 million for
continued energy research over the next five years -- bringing
the company’s total program funding to $50 million. 
“As the largest energy investor in the U.S. over the past five
years, BP is pleased to extend its on-going commitment to
academic research in this country through our continued
collaboration with MIT,” said Lamar McKay, Chairman and
President of BP America, Inc. “Addressing the nation’s energy
challenges requires long-term partnerships between the private
sector and leading scientific institutions. We believe the MITEI
program we helped found is an example of the critical linkage
between energy and technology.” 
Launched in 2006 with BP as the inaugural founding member, the
MITEI conducts multidisciplinary research aimed at tackling
complex energy challenges like increasing energy supply,
improving efficiency, and addressing environmental impacts of
energy consumption. To date, the initiative has sponsored
hundreds of energy-related projects ranging from unconventional
sources of hydrocarbons to renewables and nuclear fusion. 
“The MITEI has become a model for large-scale multidisciplinary
research in partnership with industry,” said MIT President L.
Rafael Reif. “BP’s early engagement and support were essential
and we are very happy that this renewed commitment signals
success in meeting key objectives of both BP and MIT.” 
The MITEI program pairs world-class research teams with the
energy companies responsible for commercializing the technology.
The program’s structure enables industrial partners to jointly
support innovative energy-related academic research while
simultaneously advancing research directed at specific business
challenges. 
“BP is a valued partner in defining and addressing fundamental
energy challenges,” according to Professor Ernest J. Moniz,
MITEI Director. “It provides invaluable industry perspectives
and has done much to shape the overall mission of the MIT Energy
Initiative. We are thrilled that BP has decided to extend its
membership.” 
Within the program, BP scientists and engineers and MIT
researchers collaborate across a range of fields including
energy conversion, energy sustainability, materials science, and
the modelling of global energy production and use. 
“MIT faculty and students have proved to be invaluable research
partners who embody the Institute’s motto ‘Mens et Manus’ or
‘Mind and Hand’,” said Ellen Williams, BP’s Chief Scientist.
“They bring a powerful combination of scientific innovation and
rigor along with an awareness of the practical considerations of
large-scale energy provision. Over the last five years, MITEI
research has provided BP with a range of practical solutions and
trusted scientific data, from state-of-the-art process
optimisation and modelling tools to ground-breaking analysis of
water use in energy production.“ 
BP funds about $100 million in university research, education
and recruitment activity at more than 50 U.S. universities
annually. 
About BP in the U.S. 
BP has invested more in the United States over the last five
years than any other oil and gas company. With more than $52
billion in capital spending between 2007 and 2011, BP invests
more in the U.S. than in any other country. The company is the
second largest producer of oil and gas in the U.S., a major oil
refiner and a leader in alternative energy sources including
wind power and biofuels. BP provides enough energy each year to
light the entire country. With 23,000 U.S. employees, BP
supports nearly a quarter of a million domestic jobs through its
business activities. For more information, visit www.bp.com. 
About MITEI 
MITEI was built according to a template laid out in the 2006
Report of the Energy Research Council commissioned by former MIT
President, Susan Hockfield. The report called for new approaches
to multidisciplinary research, education across school and
department boundaries, a more energy efficient campus reached in
part through student-led projects, and outreach to the policy
world through technically grounded analysis. It also emphasized
the importance of another MIT strength - partnering with
industry as a prime locus for the clean energy transformation
needed to address economic, environmental, and security concerns
associated with the current energy system. The MITEI program
includes research, education, campus energy management and
outreach programs that cover all areas of energy supply and
demand, security, and environmental impact. 
In the past five years, hundreds of research projects are being
supported ranging from solar energy to hydrocarbon production,
from global systems to nanostructured materials. This has been
made possible largely through strategic alliances with companies
across a broad range of energy-related businesses, as well as
government and philanthropic support. 
Further Information:
Name: BP US Press Office
Phone: (281) 366-4463
Email: uspress@bp.com 
(sgp) NY 
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