1 March 2021 9:38 GMT Updated 1 March 2021 9:38 GMT in London
US supermajor Chevron has made a $25 million investment in Baseload Capital, a Sweden-based private investment company that develops and operates low-temperature geothermal and heat power assets.
The investment follows hot on the heels of Chevron s investment in a Canadian deep geothermal start-up, Eavor.
Baseload said the two parties have already signed a letter of intent to investigate a potential pilot project in California in the US to test new technology for heat power, which is renewable energy that can be harnessed from either geothermal resources or waste heat.
In addition, Baseload and Chevron will look for commercial heat power opportunities in common regions where Chevron operates.
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Chevron Technology Ventures, LLC has announced the launch of its $300 million Future Energy Fund II.
Chevron Technology Ventures, LLC (CTV) has announced the launch of its $300 million Future Energy Fund II, which it says is focused on technologies that have the potential to enable affordable, reliable, and ever cleaner energy for all.
Future Energy Fund II will focus on innovation in industrial decarbonization, emerging mobility, energy decentralization, and the growing circular carbon economy, according to CTV. The company’s first Future Energy Fund launched in 2018 and invested in more than ten companies with over 150 other investors to support innovations in carbon capture, emerging mobility, and energy storage, CTV highlighted.
Chevron commits $300M toward low-carbon technology investments
Chevron Technology Ventures, LLC (CTV) launched the $300-million Future Energy Fund II focused on technologies that have the potential to enable affordable, reliable, and ever-cleaner energy.
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 decarbonization, emerging mobility, energy decentralization and the growing circular carbon economy.
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, digitalization and low-carbon operations. Chevr
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.”