Chevron: investment in carbon capture

(CercleFinance.com) - Chevron announced on Thursday that it had acquired a stake in US climate start-up ION Clean Energy, which specializes in carbon capture and elimination, in a round of financing that reached $45 million.


The Californian oil giant explains that its subsidiary Chevron New Energies (CNE) led this Series A financing, a fund-raising designed to ensure the commercial development of the start-up's business.

With this fresh money, ION hopes to be able to structure its growth and promote the deployment of its latest-generation amine chemical absorption technology, dubbed 'ICE-31'.

Chevron explains that the investment in this Boulder, Colorado-based company will enable it to strengthen its expertise in the field of amine gas treatment, complementing its existing activities in CCUS (carbon capture, storage and utilization).

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