energy equation requires multiple and diverse energy sources

When it comes to the planet’s energy future, diversity is key.

That’s according to Chris Powers, vice president for Carbon Capture, Utilization, and Storage (CCUS) for Chevron New Energies (CNE), who recently addressed a gathering of industry leaders in Singapore.

Powers noted three key factors—solutions, scale and speed—are needed in the transition to lower carbon energy. These factors are interconnected. For example, solutions and scale drive speed.

Chevron is lowering the carbon intensity of its existing operations by reducing emissions from its hydrocarbon production. That can occur by lowering Scope 1 and Scope 2 emissions.

Scope 1 emissions are direct emissions from the company’s operations. Scope 2 emissions are indirect emissions resulting from the energy the company purchases and uses.

CNE focuses on building new businesses in areas that align with Chevron’s legacy strengths, including:

• CCUS
• Hydrogen
• Carbon offsets
• Advanced geothermal
• Renewable fuels

CNE also invests in hydrogen, CCUS and other new energy companies. They not only collaborate with these companies, but also test their technologies at Chevron operations to help them take critical steps in scaling from the lab to fully commercial.

Chevron is pilot testing the technology at its San Joaquin Valley operations in California. This pilot is part of a public-private partnership agreement (Cooperative Agreement No. DE-FE0031944) with the U.S. Department of Energy National Energy Technology Laboratory. Svante also provides carbon capture expertise and project management. The technology is designed to reduce costs and enable more widespread adoption of carbon capture and removal across various industries.

Innovation and collaboration across sectors and borders will be key to unlocking the full potential of lower carbon energy, according to Powers.