Chevron announces low-carbon technology investments

Source: press release, 25 February 2021

photo: Chevron Technology Ventures
photo: Chevron Technology Ventures

Chevron Technology Ventures, LLC (CTV) has announced the launch of its USD 300 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 decarbonisation, emerging mobility, energy decentralisation and the growing circular carbon economy.

“We continue to take meaningful actions to address the challenges and opportunities of the global energy transition,” says 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, digitalisation 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.