Published on 8 Apr 2024 on Zacks via Yahoo Finance
Chevron (CVX) Invests in Carbon Capture Firm ION Clean Energy
Chevron Corporation CVX has recently announced its role as one of the newest equity holders in the innovative carbon capture firm, ION Clean Energy (“ION”), in a significant move toward sustainable energy solutions. This strategic investment by the U.S. supermajor marks a pivotal moment in the advancement of carbon capture technology and highlights Chevron's commitment to environmental stewardship and energy transition.
Chevron's Role in the Investment
Chevron spearheaded the $45-million Series A financing round in ION through its New Energies Division. While the exact amount of investment remains undisclosed, the company's involvement signals a deepening interest in pioneering solutions to address climate change and reduce greenhouse gas emissions.