Chevron to provide up to $17.5 million over next five years to fund
broad-based research
SAN RAMON, Calif., Oct. 3 /PRNewswire-FirstCall/ -- Chevron Energy
Technology Company, a Chevron Corporation (NYSE: CVX) subsidiary, today
announced that it has formed a research alliance with the Penn State
Institutes of Energy and the Environment to research coal conversion
technologies.
The joint research initiative will focus on coal chemistry and
conversion technology, advanced fuels, combustion, analysis methods,
reactor science, separations, process technology, and CO2/greenhouse gas
management and conversion. The alliance also will integrate research with
educational and career opportunities for students and graduates
specializing in coal conversion and energy technologies. Under the
alliance, Chevron will provide up to $17.5 million over the next five years
to the university.
"Chevron values technological excellence and R&D capability and is
impressed with the quality of coal research done at Penn State over the
last century," said Don Paul, vice president and chief technology officer,
Chevron Corporation. "Chevron also has a rich history in coal through our
Chevron Mining Company and its predecessor, P&M Coal. We will draw on the
deep expertise of both institutions to push the front edge of technology
and innovation into the 21st century. We look forward to a highly
productive research relationship that will contribute to the technical
innovations of clean coal and coal-to-liquid technology."
"Penn State has a long history of teaching, research and service in
energy technologies, resources and policy in Pennsylvania and across the
world," said Graham Spanier, president, Penn State University. "The Penn
State Institutes of Energy and the Environment bring together many strong
energy sciences and technology assets in our colleges and institutes. This
alliance will join the best efforts of higher education and the private
sector in trying to resolve critical energy issues."
Chevron is one of the world's leading integrated energy companies. The
company has about 56,000 employees, and Chevron's subsidiaries conduct
business in more than 180 countries. Chevron operates across the entire
energy spectrum -- exploring for, producing and transporting crude oil and
natural gas; refining, marketing and distributing fuels and other energy
products and services; generating power; designing and marketing
large-scale energy efficiency solutions and commercializing the energy
resources of the future, including biofuels and other renewables. Chevron
is based in San Ramon, Calif. More information on Chevron is available at
http://www.chevron.com.
SOURCE Chevron Corporation
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Related links:
http://www.chevron.com
CONTACT:
Leif Sollid of Chevron, +1-925-842-3422; or
Vicki Fong of Penn State, +1-814-865-9481
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