Chevron Announces $500 Million Investment in Lower Carbon Future

Chevron Technology Ventures (CTV) recently announced its $500 million Future Energy Fund III. The fund will support the evolving energy system by investing in companies that are developing lower carbon technologies.

Carbon capture, utilization and storage (CCUS): CCUS can help reduce the carbon intensity of industrial operations.

Hydrogen: As the most abundant element in the universe, hydrogen presents many opportunities for a lower carbon future.

Lower carbon intensity fuels: Renewable fuels, including biodiesel made from seed oils and animal byproducts, offer sources of alternative energy.

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Lost Hills, one of Chevron’s long-standing facilities in California’s San Joaquin Valley, will start producing hydrogen in early 2026. It is the first Chevron-only commercial electrolytic hydrogen project.

Sun powered: Lost Hills will leverage energy from its 29-megawatt solar field to produce hydrogen.

A growing market: Demand for the lower carbon intensity fuel could reach 225 million tonnes per year by 2050.

Future of hydrogen: Chevron believes technology, partnership and policy will be key drivers for making faster progress toward scaled solutions.