Australia’s leading Monash University and local Woodside Energy Group (ASX: WDS) have extended their early-stage research and development (R&D) partnership for three years until 2025.
In the next phrase of the Woodside Monash Energy Partnership, they will make a joint investment of AUD$22 million to develop new lower-carbon products and services, Monash said.
In the period 2023 through 2025, the project will seek to speed up research that will result in pilot plants, focusing on three new flagship programs. Those will involve direct air capture, large-scale ultra-low-cost solar, and biochemical conversion and recycling of mixed gas streams.
Through the partnership Monash is working to deliver on its Impact 2030 strategic plan while addressing the global climate change crisis by supporting Australia’s energy transition.
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Since its launch in 2019 the partnership has achieved significant milestones, Professor Doron Ben-Meir, Deputy Vice-Chancellor for Enterprise and Engagement and Senior Vice-President at Monash, said. “This includes developing large-scale renewable and clean energy systems for the production of hydrogen, understanding how hydrogen can be stored and transported, and developing carbon utilization technology for hard-to-abate sectors,” he added.
“Woodside has set a target to reduce its net equity scope 1 and 2 greenhouse gas emissions by 30 per cent by 2030 and has an aspiration to be net zero by 2050 or sooner,” Chief Technology Officer Daniel Kalms commented on behalf of the petroleum exploration and production company. The executive highlighted the role of the Woodside Monash Energy Partnership in meeting these targets.
In 2021, the joint project received the Australian Financial Review Higher Education Award as well as an Engagement Australia Excellence Award for Excellence, both in the category Industry Engagement.
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