Chevron Technology Ventures, LLC (CTV) has announced the launch of its US$300 million Future Energy Fund II which is focused on low-carbon technologies that have the potential to enable affordable, reliable, and cleaner energy.
Chevron’s first Future Energy Fund was launched in 2018 and has since invested in more than 12 companies with more than 150 other investors to support innovations in areas such as carbon capture, emerging mobility, and energy storage.
Building upon the success of the first fund, Future Energy Fund II will focus on innovation in industrial decarbonisation, emerging mobility, energy decentralisation and the growing circular carbon economy.
Vice President, Innovation and President of Technology Ventures at Chevron, Barbara Burger, said the company continues to take meaningful actions to address the challenges and opportunities of the global energy transition.
“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,” she said.
About Chevron Technology Ventures
Chevron Technology Ventures (CTV) pursues externally developed low-carbon technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and ever-cleaner energy.
CTV leverages innovative companies and technologies to strengthen Chevron’s core operations and identifies new opportunities to shape the future of energy.
Future Energy Fund II is the eighth venture fund launched since CTV was established in 1999, to identify and integrate externally developed technologies and new business solutions with the potential to enhance the way Chevron produces and delivers affordable, reliable and ever-cleaner energy now and into the future.
CTV engages a range of startup companies, investors, incubators and accelerators to access technology that can be used across Chevron to enable us to operate more efficiently, lower carbon intensity and launch viable new businesses.