Chevron announced the launch of its new energy fund Thursday with a commitment of $300 million toward low-carbon technology investments.
Future Energy Fund II is the eighth venture fund to come out of Chevron Technology Ventures, which seeks to invest in innovative companies driving solutions for a cleaner future.
“We’ll be focused in on some of the more difficult to decarbonize sectors of the economy,” Chevron Chairman and CEO Mike Wirth told CNBC’s David Faber in an interview recorded Wednesday afternoon. “The primary motivation here is not a profit motivation, it’s to nurture technology.”
For an oil and gas company like Chevron, it can be hard to have ESG-centric investors look beyond…