Rice University and Woodside Energy have announced a five-year technology collaboration aimed at reducing greenhouse gas emissions and providing lower carbon solutions.

Woodside will provide $12.5 million to fund the creation of the Woodside-Rice Decarbonisation Accelerator — an initiative that aims to bring breakthrough decarbonisation technology from the Rice labs to market.

Rice University President Reginald DesRoches said: “This collaboration is a testament to the power of merging academic expertise with industry insight and support.”

The goal of the accelerator is to fast-track the commecialisation of technologies, with a specific focus on manufacturing products derived from captured carbon dioxide and methane.

Specifically, the university hopes to leverage cold plasma technology, which is a unique approach to breaking down carbon dioxide.

These products have potential application to make better batteries, transistors, and other critical materials for energy technologies.