partnerships & projects

A lower carbon future is best achieved through collaboration. We are working in new ways with innovators, policymakers, partners and customers to understand and address the complex needs of the essential industries that enable modern society. We are working every day toward providing ever-cleaner energy that is also affordable and reliable.

carboncapture,utilization,andstorage

carbon capture, utilization, and storage

Here are some examples of our partnerships and projects:

Mitsui O.S.K. Lines, Ltd.

In November 2022 we announced signing a Joint Study Agreement (JSA) with Mitsui O.S.K. Lines, Ltd. (MOL) on the feasibility of transporting liquified carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.

The JSA will complement work to be advanced by a recently announced consortium to explore solutions for large-scale carbon capture, transport and permanent storage of CO2 from Singapore. Through its part in three joint ventures, Chevron was also recently granted an interest in three greenhouse gas assessment permits offshore Australia.

Chevron Singapore CCUS Consortium

Chevron announced a memorandum of understanding with Air Liquide, Keppel Infrastructure and PetroChina to create a consortium that intends to evaluate and advance the development of large-scale carbon capture, utilization, and storage (CCUS) solutions and integrated infrastructure in Singapore. Through research, testing and operational solutions, the consortium aims to provide industry-wide CCUS infrastructure to support the energy and chemicals sector by capturing CO2 emissions to utilize for making useful products like plastics and cement, or by transporting the CO2 to geological reservoirs in the Asia Pacific region for permanent and secure storage.

 Australia greenhouse gas assessment permits

In September 2022, we announced that Chevron Australia is part of three joint ventures that have been granted an interest in three offshore greenhouse gas assessment permits. The acreage totals nearly 7.8 million acres – an area larger than Belgium. We will collaborate with our partners to define the potential in these blocks, located in the Carnarvon and Bonaparte Basins, and explore the possibilities to provide lower carbon solutions for our customers and stakeholders in the region. These new greenhouse gas assessment permits have the potential to expand Chevron’s portfolio of carbon capture and storage assets in the Asia-Pacific region.

Bayou Bend CCS

In May 2022, we entered into a joint agreement with Talos Energy and Carbonvert to develop the Bayou Bend CCS hub offshore of Jefferson County, Texas. The Bayou Bend CCS project site encompasses over 40,000 gross acres and, based on Talos and Carbonvert’s preliminary estimates, could potentially sequester 225 to 275 million metric tons of carbon dioxide (CO2) from industrial sources in the area. The Bayou Bend CCS lease is the first and only offshore lease in the U.S. dedicated to CO2 sequestration.

Carbon Clean

In February 2022, we announced a new investment in Carbon Clean, a global leader in cost-effective industrial carbon capture, making us the largest investor in the company. 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 Technology Ventures made an initial investment in Carbon Clean in 2020.

San Joaquin Valley Decarbonization

  • Kern River Carbon Capture Project

    Chevron was awarded a project from the U.S. Department of Energy (project #DE-FE0031944) to pilot technology that captures CO2 from post-combustion gas. In collaboration with Svante and the National Energy Technology Laboratory, we are planning to test the technology at our Kern River facility in San Joaquin Valley, California, with startup slated for Q4 ’22 for a six-month operational trial.

  • McKittrick Carbon Capture Project

    We are implementing engineering design for a commercial-scale project in the San Joaquin Valley, California, to capture CO2 from a cogeneration plant’s gas turbine. This project combines two technologies: CarbonPoint Solutions’ SemiClosed Cycle CO2 Concentration Technology and Carbon Clean’s Advanced Rotating Packed Bed Solvent Capture Technology.

  • Eastridge Carbon Capture and Storage Project

    We are developing a carbon capture and storage (CCS) project aimed at reducing the carbon intensity of our operations in San Joaquin Valley, California. At our Eastridge facility, we plan to install post-combustion CO2 capture and compression equipment on certain equipment, which will enable us to inject and permanently store CO2 deep underground.

Houston CCS Hub

Chevron and more than 10 industry partners have agreed to support large-scale deployment of carbon capture and storage (CCS) to help decarbonize industrial facilities in Houston, Texas, one of the largest concentrated sources in the United States. The organizations are considering using CCS technology at facilities that generate electricity and manufacture everyday products such as plastics, motor fuels and packaging. The collaboration could lead to capturing and storing up to 50 million metric tons of CO2 per year by 2030 and about 100 million metric tons by 2040.

Singapore National Research Foundation

Chevron is a member of a consortium with the Singapore National Research Foundation and other companies. We are working jointly to develop the first end-to-end decarbonization process in Singapore. This collaboration is aimed at accelerating the development of a highly integrated, energy-efficient CCUS system that can lead to a low-carbon economy and potential commercial developments for Singapore, as well as help the country meet its Paris pledge.

Chevron Singapore

Chevron Singapore signed a memorandum of understanding with the Agency for Science, Technology and Research (A*STAR), one of 13 partners, to formalize a public-private partnership to explore a testbed facility for accelerating industry adoption of emerging carbon capture and utilization technologies to enable companies to rapidly pilot and scale up new CCU technologies.

Carbon Engineering

Chevron is invested in Carbon Engineering to accelerate the commercialization of Carbon Engineering’s direct air capture (DAC) technology, which removes CO2 directly from the air. The technology is expected to be used as a mechanism to reduce emissions from transportation and enable permanent capture of existing atmospheric CO2.

Enterprise

We announced a framework with Enterprise Products Partners L.P. to study and evaluate opportunities for CCUS from their respective business operations in the U.S. midcontinent and Gulf Coast. Potential projects resulting from the evaluation would seek to create opportunities to capture, aggregate, transport and sequester CO2.

Blue Planet

Chevron is invested in Blue Planet, which uses CO2 as a raw material for making carbonate rocks used in place of quarried limestone in building material. In addition, we are exploring opportunities to collaborate on potential pilot projects and commercial development in key geographies.

hydrogen

hydrogen

Some examples of our collaborations and investments include:

Toyota

Chevron and Toyota Motor North America Inc. (Toyota) announced a memorandum of understanding to explore a strategic alliance to catalyze and lead the development of commercially viable, large-scale businesses in hydrogen, with the goal of advancing a functional, thriving global hydrogen economy. Chevron and Toyota are seeking to work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles and supply opportunities for that demand; and exploring opportunities to jointly pursue research and development in hydrogen-powered transportation and storage.

Cummins

Chevron and Cummins Inc. (Cummins) announced a memorandum of understanding to explore a strategic alliance for commercially viable business opportunities in hydrogen and other alternative energy sources. Chevron and Cummins intend to initially collaborate on four main objectives: advancing public policy that promotes hydrogen as a decarbonizing solution for transportation and industry; building market demand for commercial vehicles and industrial applications powered by hydrogen; developing infrastructure to support the use of hydrogen for industry and fuel cell vehicles; and exploring opportunities to leverage Cummins’ electrolyzer and fuel cell technologies at one or more of Chevron’s domestic refineries.

BNSF and Caterpillar

In December 2021, we announced a memorandum of understanding to advance the demonstration of a locomotive powered by hydrogen fuel cells. The goal of the demonstration is to confirm the feasibility and performance of hydrogen fuel for use as a viable alternative to traditional fuels for line-haul rail. Hydrogen has the potential to play a significant role as a lower-carbon alternative to diesel fuel for transportation, with hydrogen fuel cells becoming a means to reduce emissions.

Centre for Maritime Decarbonization

In April 2022, we joined the Global Centre for Maritime Decarbonisation (GCMD) to help support GCMD’s efforts to develop potentially scalable lower carbons an independent, nonprofit organization, established with support from the Maritime and Port Authority of Singapore. It collaborates with the maritime industry, plans to conduct pilot projects and trials, and advocates for well-designed climate policies and standards.

Iwatani

In February 2022, Chevron and Iwatani announced an agreement to co-develop and construct 30 hydrogen fueling sites in California by 2026. As part of the agreement, we plan to fund construction of the Chevron-branded retail locations across the state. Iwatani will operate and maintain the hydrogen fueling sites, with Chevron supplying a portion of the fueling sites with excess hydrogen production capacity at its Richmond Refinery.

Raven SR

Chevron is invested in Raven SR Inc., a renewable fuels company that plans to build modular waste-to-green hydrogen production units and renewable synthetic fuel facilities initially in California and then worldwide. Raven SR’s technology makes the company one of the only combustion-free, waste-to-hydrogen producers in the world.

Starfire

In 2021, Chevron invested in Starfire, a Boulder, Colorado–based startup developing a modular, distributed ammonia production and cracking system. Ammonia is a promising energy carrier with an energy density comparable to fossil fuels and significantly higher than lithium-ion batteries or hydrogen. Starfire designed its system to be cost-competitive.

Hydrogenious LOHC Technologies

In 2021, through our technology ventures group we announced an investment in Hydrogenious, a developer of liquid organic hydrogen carrier technology. This has the potential to deliver affordable and efficient storage and transport of hydrogen, one of the more challenging parts of the value chain.

Aurora Hydrogen

In August 2022, our technology ventures group announced an investment in Aurora Hydrogen. Aurora is developing a clean hydrogen production technology that uses microwave energy without generating any CO2 emissions or consuming water. Hydrogen production using Aurora technology has the potential to reduce global CO2 emission by over 900 million tonnes per year.

carbonoffsets

carbon offsets

Some examples of our partnerships, associations and investments include:

Restore the Earth Foundation

In March 2022, we announced a reforestation project for up to 8,800 acres of property in St. Charles Parish, Louisiana. The project will bring together Chevron and Restore the Earth Foundation to develop a nature-based solution, which is expected to remove carbon from the atmosphere and be focused on reforesting natural cypress forests and swamps in St. Charles Parish. Chevron will provide funding for Restore the Earth to plant an expected 1.7 million native bald cypress seedlings as part of the project.

World Bank

Chevron is party to a memorandum of understanding with the World Bank. The World Bank’s goal is to enhance global climate ambitions in mitigation actions and activities to facilitate the development of carbon and climate markets and associated infrastructure based on emerging international and national regulatory frameworks. Specifically, we seek to collaborate on activities that promote the establishment by the World Bank of facilities that may generate, warehouse, acquire, sell or otherwise transfer mitigation outcomes in support of the Paris Agreement.

IHS Markit

Chevron is an advisory board member of the IHS Markit Carbon Meta-Registry. IHS Markit is leading a consortium of stakeholders in the global carbon markets to develop the market infrastructure needed to support the realization of Paris Agreement carbon-emissions targets. The Carbon Meta-Registry will provide a network to connect voluntary and government carbon credit programs, market participants and service providers. It will leverage distributed ledger technology and reduce the risk that credits are counted or claimed more than once.

Oil and Gas Climate Initiative (OGCI)

Chevron participates in the OGCI’s Natural Climate Solutions workstream, exploring ways to enhance the scientific, technological and operational basis for a global scaling up of natural climate solutions (NCSs).

Boomitra

Chevron is invested in Boomitra, a startup developing an agricultural technology to enable farm carbon sequestration and monetization. Boomitra has the potential to cost-effectively grow the supply of carbon offsets to meet increasing demand.

Markets for Natural Climate Solutions Initiative

Chevron is a founding member of the Markets for Natural Climate Solutions Initiative to boost climate action. NCS provide a potentially cost-effective form of carbon management that can contribute to the goals of the Paris Agreement. In collaboration with the International Emissions Trading Association, Chevron is working with members and stakeholders on a policy roadmap and market strategy.

University of Maryland

Chevron supports the University of Maryland’s modeling and analysis to promote carbon markets and transferability of emissions credits.

Institute of International Finance Taskforce on Scaling Voluntary Carbon Markets

Chevron is a consultative group member of the Institute of International Finance Taskforce on Scaling Voluntary Carbon Markets (TSVCM). A large, transparent, verifiable and robust voluntary carbon market can help deliver carbon-reduction goals and is key to the integrity of reductions. The TSVCM brings together experts across the carbon market value chain to help build consensus on how best to scale up voluntary carbon markets.

Acorns and One Tree Planted

In collaboration with Acorns, a saving and investing app in the United States, Chevron is piloting a new program in California to have five trees planted via the One Tree Planted organization every time a customer fills up at the pump. While not an offset credit-generating activity, the program provides an opportunity to better understand consumer interest in offsetting emissions from use of our products.

emergingtechnologies

emerging technologies

Some examples of our projects, partnerships and investments include:

Baseload Capital

Chevron is invested in Baseload Capital, a private investment company focused on the development and operation of lower-temperature geothermal and heat power assets.

Eavor Technologies

Chevron is invested in Eavor Technologies, a company that provides a closed-loop geothermal technology for both power and direct heat markets. Eavor’s innovative system has dispatchability for power load balancing, which is becoming more essential as intermittent renewables saturate more power grids.

Mitsui Oil Exploration Co., Ltd (MOECO)

In September 2022, Chevron New Energies and Mitsui Oil Exploration Co., Ltd (MOECO) announced the signing of a Joint Collaboration Agreement to explore the technical and commercial feasibility of advanced geothermal power generation in Japan. Building on Chevron and MOECO’s long-standing relationship, the new collaboration will study geothermal resource potential across Japan and will evaluate the effectiveness of Advanced Closed Loop (ACL) technology for a future joint pilot project in Japan. Both companies may also assess potential collaboration for advanced geothermal technology opportunities using ACL globally.

Rice Alliance for Technology and Entrepreneurship

Chevron is a founding supporter of the Rice Alliance Clean Energy Technology Accelerator, which develops programs to support early-stage energy startups.

Greentown Labs

Chevron partnered with Greentown Labs, the largest climate technology startup incubator in North America, to support opening a Houston, Texas, location. This builds on our support for Greentown Labs in Boston since 2013.

MIT

Chevron is a sustaining member of the MIT Energy Initiative, which fosters new research and education to develop innovative tools, technologies and solutions to address global energy needs and challenges.

Zap Energy

Chevron is invested in Zap Energy, a startup developing a next-generation modular nuclear reactor with an innovative approach to advancing cost-effective, flexible and commercially scalable fusion.

Ocergy

Chevron is invested in Ocergy, a developer of floating offshore wind foundation technology. The investment will also fund the development of an environmental monitoring buoy that has the potential to gather data and support biodiversity.

Natel Energy

Chevron is invested in Natel Energy, a startup providing hydropower-based technology that has the potential to unlock distributed hydropowered resources and that aims to provide a reliable, dispatchable power resource to balance intermittent renewables.

Mainspring

Chevron is invested in Mainspring Energy, a startup developing technology that has the potential to enable greater fuel flexibility and utilization of lower carbon fuels with near-zero NOx emissions.

integratedsolutions

integrated solutions

Some examples of our collaborations and investments include:

Pertamina

In May 2022, we announced a partnership with PT Pertamina to explore potential lower carbon business opportunities in Indonesia. Aimed at serving local and potentially regional customers, we plan to consider novel geothermal technologies; carbon offsets through nature-based solutions; carbon capture, utilization, and storage (CCUS); as well as lower carbon hydrogen development, production, storage, and transport.

KazMunayGas

In June 2022, we announced a memorandum of understanding to explore potential lower carbon business opportunities in Kazakhstan with JSC NC KazMunayGas (KMG). Chevron and KMG plan to evaluate the potential for lower carbon projects in areas such as carbon capture, utilization, and storage (CCUS); hydrogen; energy efficiency and methane management; and carbon financial disclosure methodology.