On April 26, 2024, Deputy Prime Minister Heng Swee Keat delivered a speech at the inauguration of the pioneering ExxonMobil-NTU-A*STAR Corporate Lab in Singapore, a significant initiative in the nation’s push for sustainable energy solutions.

Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat articulated Singapore’s commitment to sustainability and innovation at the launch of the ExxonMobil-NTU-A*STAR Corporate Lab on April 26, 2024. The event was attended by notable figures including Ms. Goh Swee Chen, Chair of the NTU Board of Trustees, Ms. Geraldine Chin, Chair and MD of ExxonMobil Asia Pacific, and other distinguished guests and representatives from the corporate and academic spheres.

DPM Heng highlighted the lab as the first of its kind in Singapore, established by an energy major amidst significant global shifts towards sustainable energy and climate change mitigation. The collaboration between ExxonMobil, Nanyang Technological University (NTU), and Singapore’s Agency for Science, Technology and Research (A*STAR) aims to foster innovative energy solutions that address real-world challenges through shared research and development.

At the launch, DPM Heng outlined the pressing need for an accelerated transition to greener energy sources, emphasizing the importance of global and regional cooperation in overcoming the challenges posed by climate change. He noted the positive developments in international policy, such as agreements reached at COP28 to reduce reliance on fossil fuels and the commitment to cutting global emissions by 43% by 2030 to maintain the 1.5°C climate goal.

DPM Heng stressed the role of corporate labs in strengthening Singapore’s innovation ecosystem, enabling the development of market-ready technologies that can lead to substantial environmental benefits. He also discussed Singapore’s strategic plans, including the Singapore Green Plan 2030, which targets net-zero emissions by 2050 through various initiatives aimed at enhancing sustainability across multiple sectors.

The $60 million Corporate Lab will engage over 50 individuals from ExxonMobil, NTU, and A*STAR in collaborative projects. This initiative not only supports ExxonMobil’s operational goals but also contributes broadly to the energy sector, potentially influencing global energy transition strategies.

Source – PMO