Yesterday, MIT and Lockheed Martin announced a $5 million research partnership to examine climate change and energy issues. The main focus of the research will be on climate initiatives, including utility scale energy storage and carbon modeling and verification.
Over a five year period, $5 million will be invested in the project. Dr. Ray Johnson, Senior VP and CTO at Lockheed Martin, said “As a global security company, we recognize the economic and strategic challenges posed by a dependence on foreign oil, the potential destabilizing effect of global climate change, and the vulnerability of our nation’s aging power grid. This investment provides opportunities for industry and academia to partner to develop clean, secure, and smart energy – supporting national security, a strong economic future, and climate protection for future generations.”
Susan Hockfield, President of MIT, said “This new partnership with Lockheed Martin promises significant progress in how the world produces and consumes energy. We appreciate the company’s confidence in MIT faculty and researchers, and look forward to working together to help meet the world’s pressing energy challenges.”