Chevron USA has announced a new investment in UK-based carbon capture technology business Carbon Clean.
Its technology is designed to reduce the costs and physical footprint required for carbon capture compared with many existing approaches, in addition to its fully modular construction aiming to reduce site disruption and facilitate faster permitting.
Chevron and Carbon Clean are seeking to develop a carbon capture pilot for the latter company’s CycloneCC technology on a gas turbine in San Joaquin Valley, California.
Chevron is targeting 25 million tonnes of carbon dioxide per year in equity storage by 2030, with a focus on developing regional hubs.
Chevron Technology Ventures initially made an investment in Carbon Clean in 2020, following which it launched Chevron New Energies (CNE) to accelerate lower carbon business opportunities in carbon capture, utilisation and storage (CCUS) and hydrogen as well as support the company’s ongoing growth in biofuels.
Chris Powers, Vice President of CCUS with CNE said: “We look forward to partnering with Carbon Clean to help advance Chevron’s pursuit of lower carbon solutions.
“Chevron has a long history of supporting innovation. We strive to apply our internal capabilities and longstanding partnership approach toward developing and commercialising breakthrough technologies, including those that enable lower carbon solutions in the marketplace.”