Chevron Corporation’s venture capital arm has launched its third fund, committing $500 million to invest in renewable energy technologies. The Future Energy Fund III will allow Chevron to evaluate long-term investments in areas not directly connected to its current business operations, such as fusion, direct air capture, and battery technologies. Major oil companies have been investing in companies focused on biofuels, wind, solar, carbon capture, digital energy, and electric vehicles as they aim to diversify their portfolios amid the global push to transition to renewable energy sources and reduce emissions. This new fund will build upon the renewable technology investments made through Chevron’s two preceding funds, though there is no set timeline for deploying the capital or selecting recipient companies. The first Future Energy Fund was launched in 2018, followed by a second in 2021, totaling a $400 million commitment, with a portion still uninvested. These funds have invested in over 30 companies, including Aurora Hydrogen Inc., Electric Era Technologies Inc., ChargePoint Holdings Inc., and Carbon Clean Solutions Ltd.
Power Pathways: Clean energy open access challenges and solutions
By Kushagra Nandan, Co-Founder, Managing Director and Chief Executive Officer, SunSource Energy In the wake of the heightened demand for clean energy fuelled by net zero ambitions, economic viability and governmental impetus, India has witnessed […]
GreenGo files application to develop 60 GW Megaton Moon green energy park in Mauritania
GreenGo Energy, a Danish clean energy developer has filed an application to the Ministry of Petroleum, Energy and Mines in Mauritania for the development of Megaton Moon green energy park. Furthermore, Megaton Moon is planned for […]
Plenitude commissions 330 MW solar project in Spain
Plenitude has completed and fully commissioned the 330 MW Renopool solar project in Extremadura, Spain, following the start of operations at the second 200 MW block of the facility. The project comprises a 130 MW […]