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[Elroy Jetson]

Chevron Corporation CVX, through its subsidiary Chevron Technology Ventures LLC, launched a $300-million fund as part of plans to develop low-carbon technologies for a sustainable future.

Chevron Technology Ventures, a corporate venture capital arm of Chevron, seeks externally developed technologies and advanced business solutions to enhance Chevron’s strategies to manufacture and deliver affordable, more reliable, and ever-cleaner energy.

Notably, this is the second Future Energy Fund launched by Chevron’s investment arm, which intends to uphold innovations in industrial decarbonization, newer mobility technologies, energy decentralization and the rising circular carbon economy.

In 2018, Chevron Technology Ventures initiated the first Future Energy Fund and invested in more than 10 energy companies, focusing on carbon capture and storage. Notably, the start-up fund is estimated to be $100 million. This Houston-based investment arm’s portfolio for low-carbon technology includes several companies, namely Blue Planet, Carbon Clean, Carbon Engineering, ChargePoint, Eavor, Infinitum Electric, Natron Energy, Spear Power Systems, Svante, Voyage, Vutility and Zap Energy.

At present, several energy companies are setting greenhouse gas targets to reduce emissions or considering investments in renewable energy and green technology as investors and activists brought immense pressure on the energy sector to curb climate change. As a result, peers like Exxon Mobil Corporation XOM introduced a decarbonizing technology venture to remove carbon dioxide from the atmosphere.

Since its foundation in 1999, Future Energy Fund II is the eighth venture capital fund set up by Chevron Technology Ventures. In 2019, the investment arm commenced a $90-million fund to invest in business start-ups that can help expedite the energy business of its parent company. Importantly, the new fund will focus on innovations. This is expected to play a significant role in the future energy system and can eventually make advancements to Chevron's core business in oil and gas.

https://finance.yahoo.com/news/chevron-cvx-investment-arm-launches-171605120.html