Chevron said it has made a new investment in Carbon Clean, a global leader in cost-effective industrial carbon capture. The investment advances potential cost reduction of carbon dioxide (CO2) capture, said Chevron.
“The size and cost of installing carbon capture technology has been a barrier to adoption. Carbon Clean’s technology is designed to reduce the costs and physical footprint required for carbon capture compared with many existing approaches. Carbon Clean’s technology and fully modular construction also aims to reduce site disruption and facilitate faster permitting, Chevron said in a statement.
“We look forward to partnering with Carbon Clean to help advance Chevron’s pursuit of lower carbon solutions,” said Chris Powers, vice president of Carbon Capture, Utilisation, and Storage (CCUS) with Chevron New Energies (CNE). “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.”
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