Exelon announced this week that it will sponsor the Low-Carbon Resources Initiative (LCRI), a joint effort of the Electric Power Research Institute (EPRI) and Gas Technology Institute (GTI) focused on hastening the development of low-carbon energy technologies within five years.
“We are leveraging cutting-edge research, technology and innovation every day to power a low-carbon future for our customers and communities, and this initiative will align and multiply our industry’s collective efforts to work toward a healthier planet,” EPRI board member Ken Cornew, president and CEO of Exelon Generation, said.
Beyond identifying and accelerating development, the LCRI also seeks to demonstrate and analyze the performance of these technologies and processes and to better educate both stakeholders and the public about means to reach a low-carbon future. For Exelon, which owns six electric and gas utilities, it is, therefore, a means of advancing clean energy research and development for the electric and gas sectors.
“To achieve a clean energy future, we need to look at all options, including new technologies,” Calvin Butler, CEO of Exelon Utilities, said. “Every day, our employees are reimagining the energy future across our electric and gas utilities, because we know we must drive progress to ensure our customers have equitable access to clean energy solutions. The work that EPRI and GTI are doing with the Low-Carbon Resources Initiative will help us bring that innovation to fruition in the years ahead.”
For Exelon, the LCRI investment is also just the latest in a string of recent clean energy efforts. Earlier this summer, the company announced its utilities would electricity half of their vehicles by 2030, and last year, Exelon revealed a $20 million Climate Change Investment Initiative meant to help startups working on technologies to reduce greenhouse gas emissions.