Shell to invest USD 25m for energy research

(ADPnews) - Oct 15, 2010 - Royal Dutch Shell (LON:RDSA) said on Wednesday it had agreed to invest USD 25 million (EUR 17.7m) in five years for energy research projects in Massachusetts Institute of Technology (MIT).

"The collaboration will address future and emerging technologies that demonstrate game-changing potential for the energy industry", the oil and gas major said.

Shell will start the investment this year, pouring USD 5 million each year to finance projects on advanced modelling, earth science, biofuels, nanotechnology and carbon management.

The projects will also include research in the water treatment improvements, fuel efficiency, solar power, and oil and gas technologies sectors, the company said.

(USD 1 = EUR 0.709)

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