Statoil invests in sustainable energy research

Norwegian firm Statoil has joined forces with a research group to develop sustainable energy solutions. It has signed an agreement with the Norwegian University of Science and Technology (NTNU) and […]

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By Priyanka Shrestha

Norwegian firm Statoil has joined forces with a research group to develop sustainable energy solutions.

It has signed an agreement with the Norwegian University of Science and Technology (NTNU) and plans to invest at least NOK 20 million (£1.5m) in four years.

The project has a total value of NOK 50 million (£4m).

Statoil said the group will assess the market prospects and effects of climate policy.

CEO Eldar Sætre added: “Statoil’s ambition is to be a leader in shaping the future energy society. Development of new technologies and solutions through industrial cooperation and collaboration with the best research and development institutes in the world are a key factor in this.”