United States – Chevron has increased its investment in Carbon Clean, a global leader in low-cost industrial carbon capture.
Adoption has been hampered by the size and cost of installing carbon capture technology. When compared to many existing approaches, Carbon Clean’s technology is designed to reduce the costs and physical footprint required for carbon capture. Carbon Clean’s technology and fully modular construction aim to minimize site disruption and speed up permitting.
In 2020, Chevron Technology Ventures made its first investment in Carbon Clean. Chevron launched CNE in 2021 to help accelerate lower-carbon business opportunities in CCUS, hydrogen, offsets, and emerging energies, as well as support the company’s ongoing biofuels growth.
Equity storage
Chevron and Carbon Clean are collaborating to develop a carbon capture pilot for Carbon Clean’s CycloneCC technology on a gas turbine in the San Joaquin Valley, California, as part of the new investment. Carbon capture will be critical in reducing emissions in energy-intensive industries like refining, cement, and steel, which are difficult to regulate. By the end of this decade, Chevron hopes to have 25 million tonnes of CO in equity storage, with a focus on developing regional hubs that leverage its existing and emerging partnerships with customers, governments, and industry.
