Chevron unit with Stanford in nanotech

RICHMOND, Calif., Aug. 2 (UPI) -- Chevron MolecularDiamond Technologies said Wednesday it will work with Stanford University to develop nanomaterials derived from petroleum.

The four-year research program will focus on developing diamondoids, which is a diamond-like molecule.

"Chevron's collaboration with Stanford and its research teams will significantly accelerate our knowledge of diamondoids and help to unlock their potential," said Don Paul, vice president and chief technology officer at Chevron Corporation. MolecularDiamond Technologies is a unit of Chevron Technology Ventures LLC, which is a wholly owned subsidiary of oil giant Chevron Corp.

"Diamondoids derived from petroleum have the potential to affect multiple industries such as energy, electronics, biopharmaceuticals, even consumer goods. And because MolecularDiamond Technologies is a part of a major petroleum company we have the advantage of a more reliable, higher quality supply compared to traditional sources of nanomaterials," said Frederick Lam, business development director at MDT.