Chevron’s Technology Ventures Unit Invests $300M for Second Climate-Focused Fund
Chevron Technology Ventures LLC (CTV) announced the launch of a $300 million fund to go toward technologies that may prove to be affordable, reliable and reduce emissions.
The Future Energy Fund II by the Chevron Corp. unit would build upon the success of the first Future Energy Fund, which was launched in 2018. The funds are focused on innovating 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 CTV President Barbara Burger. “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.”
Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change.
US Chevron Commits $300mn to Low CO2
Feb 25, 2021 3:50:pm
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by: Dale Lunan
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US Chevron Commits $300mn to Low CO2
US major Chevron said February 25 its subsidiary, Chevron Technology Ventures (CTV), had launched its second Future Energy Fund, committing $300mn to technologies that have the potential to enable clean, affordable and reliable energy.
With its first Future Energy Fund in 2018, CTV invested in more than 10 companies, alongside more than 150 other investors, to support innovations in carbon capture, emerging mobility technologies and energy storage. Future Energy Fund II will focus on innovations in industrial decarbonisation, emerging mobility technologies, energy decentralisation and the growing circular carbon economy.
Chevron Technology Ventures has announced the launch of its $300-million Future Energy Fund II focused on technologies that have the potential to enable affordable, reliable, and ever-cleaner energy for all.