Chevron Technology Ventures, the venture arm of Chevron Corp., has launched its third Future Energy Fund with a commitment of $500 million to invest in renewable energy technologies. The fund aims to support technology-based solutions that can enable affordable, reliable, and cleaner energy for all.

Building on the success of its previous Future Energy Funds, launched in 2018 and 2021 with a total commitment of $400 million, Chevron Technology Ventures (CTV) continues its focus on investing in innovations that contribute to industrial decarbonization, emerging mobility, energy decentralization, and the circular carbon economy. The new fund also aims to expand investments in novel low-carbon fuels, advanced materials, and technologies for transforming carbon into higher-value products.

Since its establishment in 1999, CTV has launched ten venture funds, including the Future Energy Fund III. These funds have played a significant role in supporting over 30 companies, with the participation of more than 250 co-investors, in their pursuit of lower-carbon innovations.

The launch of the Future Energy Fund III underscores Chevron’s commitment to exploring and investing in transformative technologies that address the challenges of climate change and contribute to a sustainable energy future. By investing in renewable energy technologies, Chevron aims to diversify its portfolio and stay at the forefront of the global push to reduce emissions and transition to renewable energy sources.

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Chevron’s focus on future energy technologies reflects its forward-thinking approach to business, enabling the company to anticipate emerging trends and opportunities in the energy sector. Through strategic investments in innovative technologies such as fusion, direct air capture, batteries, and other renewable energy solutions, Chevron is positioning itself to remain competitive and resilient in a rapidly evolving energy landscape.

The launch of the Future Energy Fund III reaffirms Chevron’s commitment to innovation, sustainability, and driving positive change in the energy industry. By investing in renewable energy technologies, Chevron aims to not only enhance its operational efficiency but also contribute to the development of a more sustainable and resilient energy ecosystem for future generations