Chevron commits $300M toward low-carbon technology investments
Chevron Technology Ventures, LLC (CTV) launched the $300-million Future Energy Fund II focused on technologies that have the potential to enable affordable, reliable, and ever-cleaner energy.
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.
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.