Chevron invests in Swedish geothermal and heat power firm - News for the Oil and Gas Sector
Oil and gas giant Chevron has invested in a Swedish private investment company as it tries to expand its clean energy offering.
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Oil and gas giant Chevron has invested in a Swedish private investment company as it tries to expand its clean energy offering.
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 har...
Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change.
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About Eavor: Eavor (pronounced “Ever”) is a technology-based Energy company led by a team dedicated to creating a clean, reliable and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop™) represents the world’s first truly scalable form of clean dispatchable power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid which is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This “radiator” simply ...