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MOSCOW (MRC) -- US oil major Chevron
Corp said it has invested in Blue Planet Systems Corp, a startup that
manufactures and develops carbon capture technology to reduce carbon footprint,
reported Reuters.
"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.
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.
As MRC informed
previously, in March 2018, Chevron Phillips Chemical, part of Chevron
Corp, successfully introduced feedstock and commenced operations of a new
ethane cracker at its Cedar Bayou facility in Baytown, Texas. At peak
production, the unit will produce 1.5 million metric tons/3.3 billion lbs. per
year. This unit is one of the largest and most energy efficient crackers in the
world. In September 2017, the company announced the successful commissioning and
start-up of two new Marlex polyethylene (PE) units in Old Ocean, Texas, based on
the company’s proprietary MarTech technologies. Together, these assets form
the bulk of the company’s US Gulf Coast Petrochemicals Project (USGCPP), which
was first announced in 2011.
Ethylene and propylene are feedstocks for
producing PE and polypropylene (PP).
According to MRC's DataScope report,
PE imports to Russia decreased in January-November 2020 by 17% year on year and
reached 569,900 tonnes. High density polyethylene (HDPE) accounted for the
greatest reduction in imports. At the same time, PP imports into Russia
increased by 21% year on year to about 202,000 tonnes in the first eleven months
of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase
in imports.
Headquartered in San Ramon, California, Chevron Corporation
is the the second-largest integrated energy company in the United States and
among the largest corporations in the world. Chevron is involved in upstream
activities including exploration and production, downstream activities including
refining, marketing and transportation, and advanced energy technology. Chevron
is also invested in power generation and gasification processes. |
