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Cashing in on the clean economy


A multi-million dollar deal signed between MIT and Iberdrola aims to advance new technologies that can be used to fight climate change.

The $10.3 million industry-academia collaboration will support tech and policy developments – via the MIT Energy Initiative (MITEI) – that can accelerate the shift to a clean energy future and tackle climate change.

Iberdrola Chairman and CEO, Ignacio Galán said: “Climate change and the policies created to address it have significant implications for businesses—it will fundamentally change products, services, and operating models. Successful companies need to actively seek the opportunities a clean economy creates. Iberdrola constitutes a perfect example of the potential of the electricity sector. The company is a world leader in renewable energies, which represent almost 60% of Iberdrola’s mix, and we plan to reduce further our carbon dioxide emission intensity by at least 50% by 2030. MIT, one of the world’s leading idea incubators, is the perfect research collaborator to deliver the technologies and solutions that will lead us towards a clean energy future.”

Companies need people equipped with the skills to capitalise on new and future energy systems. This partnership will offer Iberdrola’s workforce the opportunity to do that through MIT’s world-class education platforms.

“Strong industry collaborations are critical to achieving MIT’s vision for a clean energy future. By pairing the excellence of MIT’s researchers with Iberdrola’s embrace of clean energy infrastructure, we have an exciting opportunity to make important contributions to address climate change. We look forward to working with our Iberdrola colleagues to identify critical solutions to this complex global challenge,” added L. Rafael Reif, MIT President.


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