Energy company Chevron’s venture arm Chevron Technology Ventures (CTV) announced the launch of Future Energy Fund II. The new $300 million fund aims to invest in technologies that have the potential to enable affordable, reliable, and clean energy, with a focus on industrial decarbonization, emerging mobility, energy decentralization and the growing circular carbon economy.
CTV was launched in 1999 with the mission to identify and integrate externally developed technologies and new business solutions to enhance the way Chevron produces and delivers affordable, reliable and ever-cleaner energy. The new fund is the eighth launched by CTV, and follows its first $100 million Future Energy Fund in 2018. Along with more than 150 investors, the fund invested in companies targeting innovations in carbon capture, emerging mobility and energy storage.
Barbara Burger, Vice President, Innovation and President of Technology Ventures at Chevron, said:
“We continue 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.”