Chevron Technology Ventures (CTV) said June 20 it launched a future energy fund with an $100 million initial commitment for investments in breakthrough energy technologies.
Investments from the new fund are expected to focus on disruptive technologies across the energy landscape that reflect the company’s commitment to both lower emission energy sources and lower emissions from oil and gas, according to the CTV press release.
CTV, the Houston-based venture capital arm of Chevron Corp. (NYSE: CVX), said it aims for the investments to “enable the ongoing energy transition to a greater diversity of sources.”
“Chevron has long put its financial strength to work at critical moments that shape the future of energy,” said CTV President Barbara J. Burger in a statement. “The Future Energy Fund will inform our continuously evolving perspective on the energy landscape through investment in research and innovation. To prepare for the future, the work starts now.”
Since its inception in June 1999 as the first such fund at an oil major, CTV has supported a wide range of companies and venture capital funds, the release said.
CTV pursues innovative business solutions and externally developed technologies that have the potential to improve Chevron’s base business operations and champions their deployment and adoption into the company as it strives to lower carbon emissions.
Recommended Reading
WTI Delivered to East Houston Hits Highest Premium in Nearly Three Years
2024-05-01 - Oil takeaway capacity from the Permian Basin will tighten next month due to scheduled pipeline maintenance.
CPS Closes $785MM Deal for Talen Energy’s Texas NatGas Plants
2024-05-01 - CPS Energy has acquired all assets associated with the 897-MW Barney Davis and 635-MW Nueces Bay natural gas plants in Corpus Christi, Texas, and the 178-MW natural gas plant in Laredo, Texas.
Repsol Plans to Double Oil Production in Venezuela
2024-05-01 - Spain’s Repsol plans to double its oil production in Venezuela and continue with its diluent swap agreements with the OPEC country as approved by the U.S. government.
Permian Gas Finds Another Way to Asia
2024-04-30 - A crop of Mexican LNG facilities in development will connect U.S. producers to high-demand markets while avoiding the Panama Canal.
ARC Resources Adds Ex-Chevron Gas Chief to Board, Tallies Divestments
2024-02-11 - Montney Shale producer ARC Resources aims to sign up to 25% of its 1.38 Bcf/d of gas output to long-term LNG contracts for higher-priced sales overseas.