WASHINGTON, DC — Secretary of Energy Spencer Abraham hailed Stanford University's announcement of a new program to research and develop promising energy technologies designed to reduce or eliminate greenhouse gas emissions. With commitments amounting to $275 million over 10 years from companies such as ExxonMobil, General Electric, and others, the university's work will be aimed at developing advanced technologies in areas including electric power and fuels.

"The Stanford initiative will serve as an important national resource in helping to address the serious issue of climate change," Abraham said, congratulating Stanford University and its corporate sponsors. "This effort will play an important role in President Bush's climate change strategy, which focuses on directing R&D investments into high-priority areas where breakthrough technologies can make the difference in reducing greenhouse gas intensity while maintaining economic growth.

"The Department of Energy looks forward to working with the Stanford team and sharing information and expertise in order to further strengthen and focus our climate change research efforts, build public-private partnerships in applied research, and expand international collaborative activities," Abraham added.

Publication date: 11/25/2002