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Chevron Joins Growing List of Oil and Gas Companies Investing in Offshore Wind

Follow Us We are first in your inbox with the most important news in the industry―keeping you smarter and one-step ahead in this ever-changing and competitive market.Start your free subscription Chevron Joins Growing List of Oil and Gas Companies Investing in Offshore Wind Ocergy Inc., a company developing a couple of new offshore wind energy solutions, announced last week that Chevron Technology Ventures and Moreld Ocean Wind (MOW) were investing in its Series A round of funding. The money is expected to help the company commercialize its OCG-Wind Floating Offshore Wind Turbine technology and OCG-Data environmental monitoring buoy.

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Chevron Invests in Offshore Wind Energy for First Time - Governors Wind Energy Coalition

Governors Wind Energy Coalition Chevron Invests in Offshore Wind Energy for First Time Source: By Josh Saul and Kevin Crowley, Bloomberg • Posted: Wednesday, April 14, 2021 Chevron Corp.’s venture capital arm and Moreld Ocean Wind agreed to invest in Ocergy Inc.’s development and commercialization of floating offshore wind turbines. The investment by Chevron Technology Ventures is its first in offshore wind. The size of the investments weren’t disclosed. Floating turbines would be useful in ocean areas that are too deep for fixed turbines. “To my knowledge, this is the first investment by a U.S. oil major in offshore wind,” said Anthony Logan, a senior analyst at Wood Mackenzie Ltd.

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