Exelon (NYSE:EXC) and Northwestern University have announced a five-year strategic research partnership focused on clean energy innovation.
The power company said May 18 that it will be working with the Institute for Sustainability and Energy at Northwestern (ISEN).
The Northwestern-Exelon Master Research Agreement will provide for an initial five-year period of research around a robust project portfolio, including grid management and resilience, energy storage and renewable technologies.
When contacted, an Exelon spokesperson said funding details for the effort are confidential.
The partnership is designed to streamline the process for evaluating, testing and scaling scientific discoveries made in Northwestern labs for commercial use. Discoveries in research could have immediate and tangible implications on the way energy is produced, transmitted and consumed in the United States, the organizations said.
“With the energy landscape evolving faster than ever, Exelon is building relationships with top research centers to create an ecosystem for advancing energy technology and ingenuity,” said Exelon President and CEO Chris Crane.
“Scaling basic discovery energy science for systems-level innovation is a tremendous bottleneck for academia and industry alike,” said Michael Wasielewski, ISEN’s executive director. Leading energy companies at the cutting-edge of our electric power grid, like Exelon, are ideal partners for Northwestern and its entire research enterprise.”
Both Exelon and Northwestern are based in Greater Chicago. Northwestern has several active “master” agreements in areas of strategic importance for the University. The agreement with Exelon is the first with an electric power company, Northwestern said.