Chevron has launched its $300-million Future Energy Fund II focused on clean energy.
Chevron has launched its $300-million Future Energy Fund II focused on clean energy.
The fund will focus on innovation in industrial decarbonization, emerging mobility, energy decentralization and the growing circular carbon economy.
Meanwhile, Chevron Technology Ventures is investing in Baseload Capital, a Sweden-based private investment company focused on developing low-temperature geothermal and heat power assets (harnessed from geothermal or waste heat).
Chevron and Baseload are planning pilot projects to test new technology. Baseload Capital operates in Japan, Taiwan, Iceland, and the US and as it develops in these regions and expands to new markets, Chevron and Baseload will look for commercial geothermal and heat power opportunities in additional Chevron operations.
Baseload’s chief executive officer Alexander Helling said: ‘Chevron adds expertise in drilling, engineering, exploration and more. These assets are expected to accelerate our ability to deploy heat power.’
