GHG Emissions, Industrial - February 25, 2022
Chevron Invests in Carbon Capture
Chevron U.S.A. announced Feb. 24 that it has made an investment in an industrial carbon capture operation.
The energy company invested in Carbon Clean, whose technology is designed to reduce the costs and physical footprint required for carbon capture while reducing site disruption and permitting delays.
“We look forward to partnering with Carbon Clean to help advance Chevron’s pursuit of lower carbon solutions,” Chris Powers, vice president of Carbon Capture, Utilization, and Storage (CCUS) with Chevron New Energies (CNE), said in a statement. “Chevron has a long history of supporting innovation. We strive to apply our internal capabilities and longstanding partnership approach toward developing and commercializing breakthrough technologies, including those that enable lower carbon solutions in the marketplace.”
This is Chevron’s second investment in Carbon Clean, the first of which happened in 2020. The company launched its Chevron New Energies operation in 2021 to focus on business opportunities in CCUS, hydrogen, offsets and biofuels. To kick off the partnership with this new investment, Chevron and Carbon Clean are exploring the development of a carbon capture pilot on a gas turbine in San Joaquin Valley, Calif.
Chevron is targeting 25 million tons of CO2 per year in equity storage by the end of the decade by focusing on partnerships with customers, governments and industry.