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.
Blue Planet Corp.
Knife River Corp. is investing in Blue Planet Systems Corp. to pursue a commercial means of creating and marketing synthetic limestone. The limestone would be produced using sequestered carbon dioxide.
With Blue Planet s proprietary technology and Knife River providing expertise in construction aggregates, the companies are working together to develop construction-grade rock and ultimately concrete that would have a net-zero or net-negative carbon footprint – while maintaining the strength for which concrete is known. Knife River is the construction materials subsidiary of MDU Resources Group, Inc. (NYSE: MDU). David C. Barney, president and CEO of Knife River, has joined the five-member Board of Directors at Blue Planet.
Knife River on mission to establish synthetic limestone
Knife River Corp. plans to pursue a commercial means of creating and marketing synthetic limestone, establishing a partnership with a technology company to develop construction-grade rock and, ultimately, concrete that would have a net-zero or net-negative carbon footprint.
Knife River, which is a subsidiary of MDU Resources, specifically partnered with Blue Planet Systems Corp. Knife River made an investment in the company, and David Barney, president and CEO of Knife River, joined Blue Planet’s five-member board of directors.
A goal of the joint pursuit is for concrete to maintain the strength for which it is known, Knife River says.