Rice University has announced a five-year, $12.5 million commitment from Woodside Energy to fund the creation of the Woodside-Rice Decarbonization Accelerator, an initiative that aims to bring breakthrough decarbonization technology from the Rice labs to market.

Aimed at reducing greenhouse gas emissions and providing lower carbon solutions, the collaborative effort is focused on manufacturing products derived from captured carbon dioxide and methane. Rice hopes to leverage cold plasma technology—considered a unique approach to breaking down carbon dioxide—which has the potential to make better batteries, transistors, and other critical materials for energy technologies.

“Houston, as the world’s energy capital, is perfectly positioned to help develop the breakthrough technologies needed for the energy transition,” said Woodside executive vice president of technical services Daniel Kalms. “Rice is a great Houston institution with a long history of being a global thought leader in all things energy.”

“This collaboration is a testament to the power of merging academic expertise with industry insight and support,” said Rice University president Reginald DesRoches. “Together, we aspire to redefine the future of energy and climate.”

(Photo credit: Jeff Fitlow/Rice University)