Ferrovial and the Massachusetts Institute of Technology (MIT) signed a five year agreement today to join the MIT Energy Initiative (MITEI) and support a range of critical research projects to help transform the world’s cities and support the critical infrastructures of the future. The agreement was formalized by Rafael del Pino, Chairman of Ferrovial, and Susan Hockfield, President of MIT, at an event today at MIT in Cambridge, Massachusetts.
“Innovation in infrastructure development will play a vital role in the coming decades because of the major changes that we face,” said Rafael del Pino, Chairman of Ferrovial. “Therefore, it is in our interest to join forces with MIT, a world leader in innovation, to participate in and lead the transformation of cities and infrastructure”.
Under the agreement, Ferrovial will allocate five million dollars to support a portfolio of research projects at the Institute that will meet the strategic needs of the company at the same time they advance critical scientific and technical understanding to meet the world’s energy challenges. As a member of the Initiative, Ferrovial will also support two named fellows at MIT, the Ferrovial-MIT Energy Fellows. Projects will be developed in the areas of intelligent infrastructure and cities, water treatment and energy efficiency, among others.
Susan Hockfield, President of MIT, said: “Ferrovial’s interests in the fields of intelligent infrastructure, transport, and energy efficiency in buildings and cities are a perfect fit with MITEI’s priorities. MIT offers breadth and strength in all these areas through its Departments and Schools, and we are looking forward to meshing our multidisciplinary talent with Ferrovial’s strategic interests.”
Ferrovial will join the Governing Board and, on a rotating basis, Executive Committee of MITEI. In addition, Ferrovial personnel will be designated as project heads to work alongside MIT researchers in managing project execution, which will facilitate the exchange of knowledge between the two organizations.
Professor Ernest J. Moniz, Cecil and Ida Green Professor of Physics and Engineering Systems and Director of the MIT Energy Initiative noted, “Transportation, water and other critical infrastructure are essential components of a sustainable and efficient energy future. As one of the world’s largest infrastructure groups, Ferrovial brings a new and unique perspective to the MIT Energy Initiative. We are excited about the transformational potential of the pairing of Ferrovial’s expertise and global networks with the commitment and innovation of MIT’s faculty and students.”
Founded in 1952, Ferrovial is one of the world’s leading infrastructure groups, operating through its airports, toll roads, construction and services divisions. It has a presence in over 45 countries and has some of the world’s top privately-owned infrastructure assets, such as 407 Express Toll Route in Toronto, London’s Heathrow Airport, Chicago Skyway and Ausol toll road in Spain. Ferrovial is part of Spain’s blue-chip IBEX-35 index and also of the prestigious DJSI and FTSE4Good sustainability indices.
The MIT Energy Initiative, established in September 2006, is an Institute-wide initiative designed to help transform the global energy system to meet the needs of the future and to help build a bridge to that future by improving today’s energy systems. The MITEI program includes research, education, campus energy management and outreach activities that cover all areas of energy supply and demand, security and environmental impact. Learn more about MITEI and its member program.