BP to Set Up Energy Efficiency Research With Russia’s Skolkovo

Wednesday, December 21, 2011

By Stephen Bierman

BP Plc (BP/) will team up with Russia’s Skolkovo Foundation to fund energy efficiency research by and Imperial College London and the Novosibirsk-based Boreskov Institute of Catalysis.

BP and Skolkovo will fund the 9.3 million-pound ($14.6 million) program, which will focus on heat exchange technology and may run three to five years at Skolkovo near Moscow, the U.K. oil explorer said today in an e-mailed statement.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net