Chevron Technology Ventures

Chevron Technology Ventures (CTV) is the corporate venture capital arm of Chevron Corporation, established in 1999. As one of the longest-standing corporate venture groups in the energy sector, CTV's primary mission is to identify, invest in, and integrate emerging technologies that can enhance Chevron's core business operations and support its strategic energy transition goals. Based in Houston, Texas, CTV acts as a critical bridge between external innovation ecosystems and Chevron's internal capabilities, fostering the commercialization and deployment of cutting-edge solutions.

CTV's investment strategy is highly aligned with Chevron's long-term objectives, focusing on areas crucial for the future of energy and industrial operations. Its portfolio spans key themes such as industrial decarbonization, which includes technologies for carbon capture, utilization, and storage (CCUS), and methane emission reduction. The Future Energy Fund, a significant component of CTV's investment vehicle, was notably expanded to $300 million to accelerate investments in renewable energy, hydrogen, and other low-carbon solutions. Additionally, CTV invests in digital technologies like AI, machine learning, and automation, as well as advanced materials and manufacturing processes that can improve efficiency and sustainability across Chevron's value chain.

The firm typically targets early-stage companies, participating in Seed, Series A, and Series B funding rounds. While specific initial check sizes can vary based on the technology's maturity and strategic fit, CTV generally makes first investments ranging from $1 million to $10 million, with the capacity for significant follow-on capital as portfolio companies achieve milestones. With a track record of over two decades since its founding in 1999, CTV has built a diverse portfolio of more than 100 companies, demonstrating its commitment to nurturing innovative startups and integrating their solutions into Chevron's global operations, thereby driving both financial returns and strategic value.