$500 million investment in emerging lower carbon technologies

Jim Gable, president of Chevron Technology Ventures (CTV), recently spoke at a BloombergNEF event in New York. He talked about Chevron's continued support for innovative energy technologies and businesses.

Three key takeaways:

• CTV has launched its $500 million Future Energy Fund III. This is CTV's largest fund to date focused on lower carbon technologies.
• This new fund will focus on Series A, B and C companies that are developing innovative energy solutions.
• Chevron plans to spend $8 billion between 2021 and 2028 to develop lower carbon businesses. (This is in addition to a $2 billion investment in carbon reduction projects.)