Chevron invests in carbon capture and utilization startup Blue Planet

Chevron invests in carbon capture and utilization startup Blue Planet

Published: 15-01-2021 11:01:40 | By: Pie Kamau | hits: 2265 | Tags:

Chevron Corporation announced a Series C investment in San Jose-based Blue Planet Systems Corporation (Blue Planet), a startup that manufactures and develops carbonate aggregates and carbon capture technology intended to reduce the carbon intensity of industrial operations.

Chevron Technology Ventures’ ongoing investment in carbon capture and utilization technologies supports Chevron’s focus on a diverse portfolio of lower-carbon solutions. In connection with its investment, Chevron and Blue Planet also executed a letter of intent to collaborate on potential pilot projects and commercial development in key geographies, with the goal of jointly advancing lower-carbon opportunities.

Blue Planet creates carbonate-based building aggregate made from flue gas-captured CO2. Distinct from some other industrial carbon capture and utilization technologies, Blue Planet’s process does not require CO2 purification and enrichment prior to use which can reduce cost and unit energy consumed during capture. Founded in 2013, Blue Planet’s technology potentially enables permanent capture of CO2 in building materials at scale, converting CO2 to a lower-carbon product for sale in the growing global market of aggregates.

Barbara Burger, VP of innovation and president of Technology Ventures at Chevron said: “Carbon capture, utilization, and storage, or CCUS, is viewed to be essential to advancing progress toward the global net zero ambition of the Paris Agreement. This investment is made through our Future Energy Fund which focuses on startups with lower-carbon technologies that can scale commercially, and we welcome Blue Planet to this portfolio.”

Brent Constantz, Founder, CEO, and chief scientist at Blue Planet said: “Chevron is a leader in scouting and identifying innovative and game-changing approaches to lower-carbon intensity. The investment may also provide future opportunities to incorporate Blue Planet’s approach into Chevron’s projects.”