Chevron Launches $500 Million Fund to Invest in Clean Tech (1)

Chevron Corp.’sventure arm launched a fund — its third — with a $500 million commitment to invest in clean energy technologies.

The Future Energy Fund III “enables Chevron to see around corners, evaluate long horizon bets not currently connected to our business,” the company said, citing fusion, direct air capture and batteries as examples. The fund will also help expand investment in low carbon fuels and the transformation of carbon to higher-value products, the company said.

Oil firms have been investing in tech companies focused on biofuels, wind, solar, carbon capture, digital energy and electric vehicles as they seek ...