It has been reported that it may be challenging for ExxonMobil to produce eco-friendly specialty chemicals, as recently, the company had been facing hurdles related to product delivery and safety. However, the company seems to be rather confident about overcoming the challenges through its deal with the University of Houston.
Reportedly, the UH-ExxonMobil deal validates that agreements between an academic institution and a niche-specific company are likely to create innovative opportunities in bulk and specialty chemicals market. Through this agreement, research scholars from the University of Houston will work on innovating cutting-edge technologies that would prove to impart practical industry-specific knowledge to the university students. Such academic-industry partnerships, cite experts, will impart the dual benefits of knowledge proliferation and overcome challenges related to real world engineering problems.
The University of Houston has signed on partnerships earlier with major industry players, however, as reported by some of the higher company authorities, its deal with ExxonMobil is one of the most lucrative ones till date.