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Chevron invests in carbon capture startup Blue Planet Systems


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(Reuters) – U.S. oil major Chevron Corp said on Thursday it has invested in Blue Planet Systems Corp, a startup that manufactures and develops carbon capture technology to reduce carbon footprint.

“This investment is made through our Future Energy Fund which focuses on startups with lower-carbon technologies that can scale commercially,” said Barbara Burger, president of Chevron Technology Ventures, the venture capital division of the company.

Chevron and San Jose-based Blue Planet also signed a letter of intent to collaborate on potential pilot projects and commercial development in some geographies.

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Last year, Chevron said it was investing in nuclear fusion start up Zap Energy Inc as energy companies face increasing pressure from investors to reduce emissions, spend more on low-carbon energy and disclose the impact of their fossil fuel production on climate change.



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