By Reuters Staff
1 Min Read
FILE PHOTO: An entrance sign at the Chevron refinery, located near the Houston Ship Channel, is seen in Pasadena, Texas, U.S., May 5, 2019. REUTERS/Loren Elliott
(Reuters) - U.S. oil major Chevron Corp said on Thursday it has invested in Blue Planet Systems Corp, a startup that manufactures and develops carbon capture technology to reduce carbon footprint.
“This investment is made through our Future Energy Fund which focuses on startups with lower-carbon technologies that can scale commercially,” said Barbara Burger, president of Chevron Technology Ventures, the venture capital division of the company.
Chevron and San Jose-based Blue Planet also signed a letter of intent to collaborate on potential pilot projects and commercial development in some geographies.
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