Chevron invests in Swedish geothermal firm

The investment in Baseload Capital underpins the oil and gas giant’s ambition to expand its clean energy offering

Chevron has unveiled plans to invest in the Swedish geothermal firm Baseload Capital.

The businesses will plan potential pilot projects to test new technologies.

The move follows the oil and gas giant’s decision to increase its focus on geothermal and low carbon offerings.

A few days ago, Chevron announced it has become a part-owner of Canadian deep geothermal innovator Eavor, alongside bp.

Chevron’s Vice President, Innovation and President of Technology Ventures Barbara Burger said: “Chevron’s investments in geothermal power reflect our ongoing focus on helping to advance the world’s transition to a lower-carbon future.”

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