The largest oil and gas company in the world and a Colorado national research laboratory announced a groundbreaking agreement Wednesday to advance lower-emissions technologies to combat climate change.

ExxonMobil has pledged up to $100 million over the next ten years in a partnership with the National Renewable Energy Laboratory (NREL), the National Energy Technology Laboratory (NETL), and other Department of Energy laboratories across the country with a focus on “developing transformative advanced energy technologies with a focus on reducing emissions.”

The NREL campus located in Golden, Colo. features 2,200 employees, researchers, and other professionals across 16 research programs, with more than $400 million in business volume in 2018.

“What excites me is that there are different mindsets coming together and, in my view, the breeding ground of tremendous breakthrough ideas,” said Martin Keller, Director of NREL.

“We’re focusing on advancing fundamental science to develop breakthrough solutions that can make a difference on a global basis in emissions reduction,” Darren W. Woods, Chairman and Chief Executive Officer of ExxonMobil, said. “We’re doing that with our in-house scientists and with corporate partners, through relationships with 80 universities and now with the intellectual and computing capacity of the renowned national labs.”

The agreement provides private sector capital and public laboratories an opportunity to pursue research into biofuels, carbon capture and storage technologies, and apply them at commercial scale for transportation, power generation, and industrial pursuits.

“Finding meaningful solutions to address climate change is going to take everyone – governments, companies and academia – working together,” said Vijay Swarup, Vice President of Research and Development at ExxonMobil Research and Engineering Company. “This agreement will help us advance fundamental science and demonstrate scale. This is critical because it will give us a better understanding of how to progress technologies so they can be applied globally,” he added.

Since 2000, ExxonMobil has invested more than $9 billion to develop and implement lower-emissions technologies. The company’s partnerships include five energy centers, over 80 research universities, and other private sector partners, according to the release.

“This opportunity targets research challenges and the development of technology central to our mission and our capabilities,” said Brian Anderson, NETL Director. “We’re bringing incredible research capability, enhanced by ExxonMobil’s industry expertise and ability to scale-up new technologies globally, which will ultimately benefit consumers in the near term, while also enhancing our nation’s prosperity and energy security.”

“The National Renewable Energy Laboratory is excited to work with ExxonMobil to develop scalable energy solutions for the future and facilitate research partnerships across the national lab system,” Keller said.

Keller said the collaboration opportunities between researchers in industry, public research institutions, and academia with this investment was “unprecedented.”

“Our partnerships with industry, government, academia and other research organizations drive the collaboration and innovation that is integral to revolutionizing the global energy landscape. By working side-by-side with ExxonMobil researchers, this partnership provides an unprecedented opportunity to explore new technologies and transform energy through science,” Keller added.