CHICAGO--(BUSINESS WIRE)--The U.S. Department of Energy’s (DOE’s) Argonne National Laboratory and Exelon have formed a five-year cooperative research and development agreement focused on identifying new technology and systems that will advance clean energy and contribute to the development of a next-generation energy grid.
“As the nation’s largest utility company and operator of the largest clean energy fleet, we have a unique responsibility to reimagine the energy grid and lead our industry in the exploration, development and deployment of the next generation of clean, diverse energy technologies,” said Chris Crane, Exelon president and CEO. “This partnership allows us to combine Exelon’s industry experts with the best minds in research to unlock new innovations and bring them to market for the benefit of our customers and the environment.”
“I believe this agreement shows the possibilities of bringing together the best of public science and private industry to make real breakthroughs that can impact the lives of people,” said Argonne Director Peter B. Littlewood. “Argonne has long believed in the power of delivering our groundbreaking science to consumers by partnering with industry, and it is an honor to have Exelon as one of those partners.”
The agreement with Argonne is part of Exelon’s companywide effort to team with government and industry associations, national labs, top universities, technology companies and venture capital firms to explore emerging technology that has the potential to form new businesses and transform the industry.
The agreement combines Exelon’s market knowledge with Argonne’s broad research and expertise in all phases of energy production and delivery. The collaboration will further the goal of Argonne and the U.S. Department of Energy to identify technologies that have the potential to improve grid reliability, efficiency and stability, and introduce them to the market where they can have the greatest benefit to consumers and the public.
Surrounded by the highest concentration of top-tier research organizations in the world, Argonne partners with hundreds of scientists and entrepreneurs throughout the region and enhances Exelon’s access to the Chicago-area’s hub of energy innovation and development.
“This is a tremendous opportunity to join Argonne’s world-class research capabilities with the leadership and experience of Exelon to achieve lab-to-market impact,” said Leah Guzowski, Lead Principal Investigator for Argonne. “We are confident that this partnership will yield strong results in realizing a clean energy future. As a Chicago-based partnership, it also demonstrates our commitment to be a key contributor to the regional innovation ecosystem.”
Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company with the largest number of utility customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2015 revenue of $34.5 billion. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 32,700 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Follow Exelon on Twitter @Exelon.