Chevron Commits $300 million Toward Low-Carbon Technology Investments
February 25 2021 - 9:00AM
Business Wire
Chevron Technology Ventures, LLC (CTV) today announced the
launch of its $300 million Future Energy Fund II focused on
technologies that have the potential to enable affordable,
reliable, and ever-cleaner energy for all.
With the first Future Energy Fund launched in 2018, CTV invested
in more than 10 companies with more than 150 other investors to
support innovations in carbon capture, emerging mobility and energy
storage. Building upon the success of the first Future Energy Fund,
Future Energy Fund II will focus on innovation in industrial
decarbonization, emerging mobility, energy decentralization and the
growing circular carbon economy.
“We continue to take meaningful actions to address the
challenges and opportunities of the global energy transition,” said
Barbara Burger, Vice President, Innovation and President of
Technology Ventures at Chevron. “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.”
Future Energy Fund II is the eighth venture fund launched since
CTV was established in 1999. CTV also has a Core Energy Fund which
invests in technologies with the potential to have a significant
impact on Chevron’s core business through operational enhancements,
digitalization and low-carbon operations. Chevron is also an
investor as a limited partner in funds such as the Oil & Gas
Climate Initiative’s (OGCI) Climate Investments and Emerald
Technology Ventures’ Industrial Innovation Fund.
About Chevron Technology Ventures
Chevron Technology Ventures (CTV) pursues externally developed
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. For more
information, visit
www.chevron.com/technology/technology-ventures.
NOTICE
CAUTIONARY STATEMENTS RELEVANT TO
FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR”
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995
This news release contains forward-looking statements relating
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performance and are subject to certain risks, uncertainties and
other factors, many of which are beyond the company’s control and
are difficult to predict. Therefore, actual outcomes and results
may differ materially from what is expressed or forecasted in such
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of the date of this news release. Unless legally required, Chevron
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or otherwise.
Among the important factors that could cause actual results to
differ materially from those in the forward-looking statements are:
changing crude oil and natural gas prices and demand for our
products, and production curtailments due to market conditions;
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margins; the company’s ability to realize anticipated cost savings,
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competitiveness of alternate-energy sources or product substitutes;
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crude oil and natural gas during the COVID-19 pandemic; the
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and future crude oil and natural gas development projects;
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pay future dividends; the effects of changed accounting rules under
generally accepted accounting principles promulgated by
rule-setting bodies; the company’s ability to identify and mitigate
the risks and hazards inherent in operating in the global energy
industry; and the factors set forth under the heading “Risk
Factors” on pages 18 through 21 of the company's 2019 Annual Report
on Form 10-K, as updated by Part II, Item 1A, "Risk Factors" in the
company's subsequently filed Quarterly Reports on Form 10-Q, and in
other subsequent filings with the U.S. Securities and Exchange
Commission. Other unpredictable or unknown factors not discussed in
this news release could also have material adverse effects on
forward-looking statements
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version on businesswire.com: https://www.businesswire.com/news/home/20210225005186/en/
Mary Murrin, mmurrin@chevron.com, +1 832-421-6996
Chevron (NYSE:CVX)
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