ExxonMobil and IBM to Advance Energy Sector Application of Quantum Computing

By Ralph Rio

Category:
Acquisition or Partnership

ExxonMobil said that it has signed a partnership agreement with IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies.  The new partnership was formally announced during the 2019 Consumer Electronics Show (CES) in Las Vegas.

As part of the agreement, ExxonMobil becomes the first energy company to join the IBM Q Network, a worldwide community of Fortune 500 companies, startups, academic institutions and national research labs working to advance quantum computing and explore practical applications for science and business.

Advances in quantum computing could provide ExxonMobil with an ability to address computationally challenging problems across a variety of applications, including the potential to optimize a country’s power grid, and perform more predictive environmental modeling and highly accurate quantum chemistry calculations to enable discovery of new materials for more efficient carbon capture.

ExxonMobil’s partnership with IBM expands the company’s collaborative efforts with other companies and academic institutions that are focused on developing an array of new energy technologies, improving energy efficiency and reducing greenhouse gas emissions.  The company currently works with about 80 universities in the United States, Europe and Asia to explore next-generation energy technologies.

Engage with ARC Advisory Group