Chevron to invest USD300 million in low-carbon technology
Chevron Technology Ventures, LLC (CTV) has launched a USD300 million Future Energy Fund II focused on technologies that have the potential to enable affordable, reliable, and ever-cleaner energy for all.
With the first Future Energy Fund launched in 2018, CTV invested in more than 10 companies with more than 150 other investors to support innovations in carbon capture, emerging mobility and energy storage. Building upon the success of the first Future Energy Fund, Future Energy Fund II will focus on innovation in industrial decarbonization, emerging mobility, energy decentralization and the growing circular carbon economy.
“We continue to take meaningful actions to address the challenges and opportunities of the global energy transition,” said Barbara Burger, vice president, Innovation and president of Technology Ventures at Chevron. “I’m proud that our second Future Energy Fund has the potential to make energy and global supply chains more sustainable by helping industries and our customers build a lower-carbon future.”
Future Energy Fund II is the eighth venture fund launched since CTV was established in 1999. CTV also has a Core Energy Fund which invests in technologies with the potential to have a significant impact on Chevron’s core business through operational enhancements, digitalization and low-carbon operations. Chevron is also an investor as a limited partner in funds such as the Oil & Gas Climate Initiative’s (OGCI) Climate Investments and Emerald Technology Ventures’ Industrial Innovation Fund.
About Chevron Technology Ventures
Chevron Technology Ventures (CTV) pursues externally developed technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and ever-cleaner energy. CTV leverages innovative companies and technologies to strengthen Chevron’s core operations and identifies new opportunities to shape the future of energy. For more information, visit www.chevron.com/technology/technology-ventures.