US oil giant Chevron invests in carbon capture startup to shrink its carbon footprint

The two companies have also signed a letter of intent to collaborate on potential pilot projects

The US oil giant Chevron has unveiled plans to invest in the carbon capture tech startup Blue Planet in a bid to shrink the carbon footprint of its operations.

The investment will be made through the company’s ‘Future Energy Fund’ which is designed to support startups with low carbon technologies that can scale commercially.

The two companies have also signed a letter of intent to collaborate on potential pilot projects.

Blue Planet’s technology captures carbon dioxide and uses it as a raw material for making carbonate rocks – these carbonate rocks are used for the production of building materials.

Barbara Burger, Vice President of Innovation and President of Technology Ventures at Chevron, said: “Carbon capture, utilisation, and storage, or CCUS, is viewed to be essential to advancing progress toward the global net zero ambition of the Paris Agreement.”

Brent Constantz, Founder, Chief Executive Officer and Chief Scientist at Blue Planet, said: “The investment may also provide future opportunities to incorporate Blue Planet’s approach into Chevron’s projects.”

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast