Big Oil's Growing Investment in Green Tech
Chevron & Carbon Capture Technology Source: Oil Refinery Stock Image Blue Planet US major oil company Chevron disclosed that it is investing in San Jose, CA based Blue Planet Systems Company. Blue Planet is a startup that develops and manufactures carbon capture technology. The technology cuts the carbon output of industrial processes in order to reduce their carbon footprint. Chevron is making the investment through its Future Energy Fund. The Fund focuses on new, innovative lower carbon technologies being developed by startups that can scale up commercially. The two companies plan to collaborate on pilot projects with the new carbon capture technology in certain locations. Chevron did not disclose the amount of the investment. Big Oil Looking For Low Carbon Solutions Chevron is a traditional fossil fuel energy company. It and other major oil companies are under growing pressure from investors to c