Oil major invests in carbon capture startup
1/14/2021
U.S. oil major Chevron Corp said 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.
Last year, Chevron said it was investing in nuclear fusion start up Zap Energy Inc as energy companies face increasing pressure from investors to reduce emissions, spend more on low-carbon energy and disclose the impact of their fossil fuel production on climate change. (Reporting by Shradha Singh in Bengaluru; Editing by Shounak Dasgupta)
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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Chevron Technology Ventures has set up shop at the Cannon startup hub in West Houston, photographed on Thursday, Dec. 17, 2020.Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less
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Employees with Chevron Technology Ventures demonstrate the different work locations at it s Cannon startup hub location in West Houston on Thursday, Dec. 17, 2020.Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less
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With the open work space, Chevron Technology Ventures is able to work on systems in a controlled setting before heading out to a site.Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less
Microsoft to Lease Space Within Houston Innovation Hub
Rice University, the driving force behind the hub, announces that the technology giant will be a tenant of the Ion project, a collaborative hub for innovation and workforce development. by Rebecca Carballo and Nancy Sarnoff, Houston Chronicle / December 18, 2020 Shutterstock
(TNS) In another win for Houston s technology sector, Microsoft has leased space in the Ion, the former Sears building in Midtown that Rice University is redeveloping into a collaborative hub for innovation. Having Microsoft as a major tenant is a huge step forward in realizing the vision for the Ion as a dynamic hub bringing together key elements of innovation in Houston, Rice President David Leebron said in a press release.