ExxonMobil announces student innovation competition

The multinational oil and gas corporation wants to encourage students to think innovatively about energy use and climate protection.

The world’s population is expected to grow by 30 percent to 9 billion by 2040, and ExxonMobil predicts that more and more will thus require the necessities of a comfortable life. Because of this, global energy demand is estimated to increase by 25 percent over the next two decades, while responsible energy use and clean energy production remain one of the world’s top goals.

ExxonMobil believes that there is no need to choose between economic performance, human well-being and climate protection.

At the same time, it is indisputable that the Earth’s population faces a huge challenge: to provide reliable, low-emission solutions for the world’s growing energy needs while significantly reducing the risks of climate change.

ExxonMobil has invested USD 9 billion since 2000 in research and development projects to reduce emissions, such as fuel cell-based carbon sequestration, and has spent more than USD 300 million over the past decade to develop biofuels. The company calculates that a quarter of the world’s CO2 emissions come from transportation, 40 percent from energy production and 30 percent from manufacturing. Therefore, innovations to reduce emissions in all areas of life and economic sectors that depend on energy use are essential. That’s why ExxonMobil is looking for the best ideas.

The main patron of the innovation competition is Tibor Gulyás, Deputy State Secretary for Innovation at the Ministry of Innovation and Technology (ITM). The state secretary believes the competition is a remarkable initiative for two reasons. On the one hand, it draws attention to the importance of climate protection and responsible energy use. On the other hand, young people have a significant role to play in future innovations.

The applications will be judged by a jury chaired by István Szabó, Vice-President of the National Office for Research, Development and Innovation, and representatives of various industry organizations and experts from ExxonMobil.

The winners of the ExxonMobil Innovation Competition can win a study trip to the European headquarters of ExxonMobil, one of the world’s leading energy companies, and a scholarship opportunity at their domestic company.

Those interested can sign up on the initiative’s website until September 25 and must upload their applications by October 21, 2020.

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