Chevron Technology Ventures
Chevron Technology Ventures is the corporate venture capital arm of Chevron Corporation, focused on scouting, funding, testing, validating, and integrating emerging technologies into Chevron's core businesses. Founded in 1999 and based in Houston, with a presence in California, it identifies early-stage companies across the United States and pursues opportunities in areas such as industrial decarbonization, emerging mobility, energy decentralization, circular economy, water management, advanced materials, hydrogen infrastructure, sensors, and related digital technologies. The team collaborates with startups to develop and commercialize technologies that can enhance Chevron's operations, reduce costs, and improve performance, acting as an innovation partner that helps Chevron adopt new capabilities while aligning with the company's strategy.
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Past deals in Natural Gas
Magnum Development
Acquisition in 2023
Magnum Development is a company that specializes in the development of storage caverns for various energy resources, including natural gas, compressed air, refined products, helium, and hydrogen. Operating primarily in the Western United States, Magnum Development focuses on providing economical solutions for the storage and distribution of clean energy. By developing its portfolio of projects, the company aims to enhance the consistent and reliable delivery of power throughout the region, addressing the growing demand for effective energy storage solutions.
Sapphire Technologies
Series B in 2023
Sapphire Technologies specializes in the development, manufacturing, and sale of energy recovery systems tailored for industrial applications involving natural gas and hydrogen. The company focuses on converting waste energy generated during pressure reduction processes into electric power, enabling businesses to enhance operational efficiency without disrupting ongoing processes. By recovering this otherwise wasted pressure energy, Sapphire Technologies assists companies in maximizing plant efficiencies, improving productivity, and reducing carbon emissions, while also helping to offset electrical costs and generate additional revenue. Their systems facilitate efficient transportation in pipelines, ensuring safe delivery through local distribution networks.
Sapphire Technologies
Series A in 2021
Sapphire Technologies specializes in the development, manufacturing, and sale of energy recovery systems tailored for industrial applications involving natural gas and hydrogen. The company focuses on converting waste energy generated during pressure reduction processes into electric power, enabling businesses to enhance operational efficiency without disrupting ongoing processes. By recovering this otherwise wasted pressure energy, Sapphire Technologies assists companies in maximizing plant efficiencies, improving productivity, and reducing carbon emissions, while also helping to offset electrical costs and generate additional revenue. Their systems facilitate efficient transportation in pipelines, ensuring safe delivery through local distribution networks.
Noble Energy
Acquisition in 2020
Noble Energy, established in 1932, is a Houston-based independent energy company. It engages in the exploration, development, and production of crude oil and natural gas. The company's assets span onshore unconventional basins in the U.S. and offshore conventional basins in the Eastern Mediterranean and off the west coast of Africa. As of 2019, Noble Energy had total proved reserves of 2.05 billion barrels of oil equivalent. Additionally, it owns and operates midstream infrastructure assets in the DJ and Delaware Basins. In 2020, the company became a subsidiary of Chevron Corporation.
Atlas Energy
Acquisition in 2010
Atlas Energy Group, LLC, established in 2011 and headquartered in Fort Worth, Texas, is engaged in the development and production of natural gas, crude oil, and natural gas liquids. The company's primary operations are in the Eagle Ford Shale in southern Texas, the Marble Falls play in the Fort Worth Basin in northern Texas, and the Mississippi Lime play in northwestern Oklahoma. Additionally, Atlas Energy invests in master limited partnerships and qualifying energy-related businesses and assets.
Unocal
Acquisition in 2005
Unocal Corporation is engaged in the exploration, development, and production of natural gas, crude oil, condensate, and natural gas liquids. The company operates across various stages of the energy supply chain, focusing on the extraction and management of hydrocarbon resources. Through its operations, Unocal plays a significant role in meeting energy demands while contributing to the overall energy sector.
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