Chavron New Energies

What Chavron New Energies does

Chevron New Energies is the lower-carbon energy investment and operating unit of Chevron Corporation, focused on carbon capture, utilization, and storage (CCUS), green and blue hydrogen production, and renewable fuels. Per its stated positioning, the unit invests in CCUS companies and is classified within Chevron Corporation's broader portfolio as an emerging lower-carbon energy initiative alongside the parent's traditional oil and gas, LNG, refining, chemicals, and marketing businesses. The unit is small (firmographics report 1-10 employees) and was established in 2021 as a dedicated vehicle for energy-transition investing and project development.

The unit's technology stack centers on three pillars: (1) CCUS systems that capture CO2 emissions from industrial sources, transport them via pipelines or ships, and permanently store them in geological formations; (2) hydrogen production spanning green (renewable-powered) and blue (natural gas with carbon capture) pathways, including participation in Utah's 220 MW ACES hydrogen hub; and (3) renewable fuels for transportation, leveraging Chevron's existing refining and distribution infrastructure. Capability is underwritten by the parent — Chevron Corporation, founded 1879 (NYSE: CVX), which operates integrated upstream (Permian Basin, Tengiz, international), midstream (pipelines, VLCC shipping), and downstream (refining, retail) assets across 19+ countries, providing geological storage capacity, hydrogen feedstock, and distribution scale that standalone CCUS ventures cannot replicate.

The unit's revenue model is investment- and partnership-driven rather than transactional. Within Chevron Corporation's reporting taxonomy, New Energies is classified as a subscription/recurring revenue stream, but it remains an emerging contribution relative to oil and gas production, LNG, and refined products which dominate parent revenue. Customers and partners identified include industrial emitters (CCUS offtake), hydrogen off-takers (ACES hub), and tech hyperscalers such as Microsoft (power-for-AI). Go-to-market leverages the parent's global retail and commercial distribution channels, fleet fuel cards, and loyalty programs (Chevron Texaco Rewards, ExtraMile Rewards, Albertsons co-branded gas rewards) to scale renewable fuel adoption.

Name

Chavron New Energies

Legal name

Chevron Corporation

Website

https://chevron.com

Company type

Public

Founded year

1879

Operating status

Operating

Headcount range

1–10 employees

Short description

Chevron New Energies is the lower-carbon energy unit of Chevron Corporation, investing in carbon capture, utilization, and storage (CCUS), green and blue hydrogen production, and renewable fuels. It serves industrial emitters, hydrogen off-takers, and tech hyperscalers, leveraging the parent's global upstream, midstream, and downstream infrastructure.

Ownership category

akta.pro rank

Product category

Lower Carbon Energy Investment

NAICS

Petroleum Refineries (32411), Petroleum and Coal Products Manufacturing (3241), Petroleum and Coal Products Manufacturing (324), Chemical Manufacturing (325), Petrochemical Manufacturing (32511), Industrial Gas Manufacturing (32512), Fuel Dealers (45721)

SIC

Crude Petroleum & Natural Gas (1311), Petroleum Refining (2911), Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC)

akta.pro secondary industries

Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD), E‑Fuels & Synthetic Hydrocarbons (e‑kerosene, e‑diesel, e‑gasoline, e‑methane) (EUABAIAA), CO₂‑Derived Synthetic Fuels for Aviation & Marine (SAF e‑fuels, e‑ammonia/e‑methanol bunkering pathways) (EUABAIAH)

Keywords

• Carbon capture investment
• CCUS company funding
• Lower carbon energy
• Carbon storage ventures
• Clean tech venture capital

Headquarters

HQ city

San Ramon

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Oil and Natural Gas Production: Upstream operations extracting crude oil and natural gas from major basins including the Permian Basin, Gulf of America, Tengiz, and international locations.
2. Refined Products Sales: Downstream marketing and sale of refined petroleum products through retail service stations (Chevron, Texaco, ExtraMile) and commercial channels including aviation, marine, and industrial customers.
3. Liquefied Natural Gas (LNG): Production and global shipment of LNG from facilities including Gorgon, Wheatstone, and Angola LNG.
4. Chemicals and Additives: Production and sale of chemicals, lubricants, and fuel additives including the proprietary Techron® additive technology.
5. New Energies: Emerging lower carbon energy businesses including carbon capture and storage, hydrogen, renewable fuels, and renewable power partnerships.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Chevron New Energies invests corporate capital in carbon capture, utilization, and storage (CCUS) companies as the dedicated vehicle for Chevron Corporation's lower-carbon energy investments. The entity supports portfolio companies with capital, energy-sector expertise, and access to Chevron's industrial infrastructure, with a broader mandate that includes hydrogen production, renewable fuels, and renewable power partnerships.

Product overview

Chevron Corporation operates as a diversified energy company offering a broad portfolio of products and services organized across multiple categories. The core consumer-facing offerings include Chevron and Texaco branded gasoline and diesel fuels enhanced with proprietary Techron additive technology, available at service stations across the United States. Loyalty programs including Chevron Texaco Rewards and ExtraMile Rewards enable customers to earn and redeem points, with partnerships like Albertsons for U extending rewards availability. Beyond fuels, Chevron provides lubricants for automotive and industrial applications, marine fuels and lubricants, renewable fuels for transportation, and credit/gift card products. The company's New Energies initiative represents its strategic pivot toward lower-carbon solutions including carbon capture, utilization and storage (CCUS), hydrogen, and renewable energy. Chevron also engages consumers through media content including The Energy Tailgate podcast. The portfolio spans upstream oil and gas operations, midstream pipeline and shipping, downstream refining and marketing, and emerging energy transition technologies.

Differentiator

Problem solved

Functional benefit

Brands

• Techron: Additive technology used in Chevron's branded gasolines for engine protection.
• ExtraMile Rewards
• Chevron Texaco Rewards
• The Energy Tailgate
• Chevron STEM Zone

Products and services

• CCUS Company Investments Strategic equity investment program deploying corporate capital into carbon capture, utilization, and storage (CCUS) companies as the dedicated vehicle for Chevron Corporation's lower-carbon energy investments. Targets CCUS technology and project developers that can benefit from Chevron's industrial scale, subsurface expertise, and energy-sector relationships.
• New Energies Portfolio Broader portfolio of lower-carbon energy initiatives under Chevron Corporation's New Energies banner, encompassing carbon capture and storage, hydrogen production (green and blue), renewable fuels, and renewable power partnerships. The portfolio provides investment and partnership opportunities for companies across the lower-carbon energy value chain.

Named customers3 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration21 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• ACES (Advanced Clean Energy Storage) Hydrogen HubcoreStrategic or Co-development Partner · 2 March 2026Chevron is participating in Utah's 220 MW ACES (Advanced Clean Energy Storage) hydrogen hub project, focused on hydrogen infrastructure development. The project is nearing completion and represents a significant investment in green hydrogen production and storage capabilities as part of Chevron's lower carbon energy strategy.
• MicrosoftcoreStrategic or Co-development PartnerChevron announced partnership with Microsoft to expand into the power-for-AI business, delivering dedicated on-site electricity to next-generation Microsoft data centers. This represents Chevron's entry into providing power solutions for AI infrastructure.
• Fab FoundationminorStrategic or Co-development PartnerChevron partners with The Fab Foundation to bring fabrication labs (Fab Labs) to areas where they operate. Chevron-supported Fab Labs are located in Bakersfield, Richmond, and Santa Clara, California; Waynesburg and Grindstone, Pennsylvania; New Orleans, Louisiana; Odessa, Texas; Pascagoula, Mississippi and Washington, D.C.
• Project Lead the WayminorStrategic or Co-development PartnerChevron partners with Project Lead the Way to provide access to engineering and computer science curricula to over 300,000 students across the United States, supporting STEM education and workforce development.
• EngineerGirl (National Academy of Engineering)minorStrategic or Co-development PartnerChevron supports EngineerGirl, an organization designed to bring national attention to exciting opportunities that engineering represents for girls and women, helping educate and encourage the next generation of innovators.
• Oakland A'sminorGTM or Marketing PartnerChevron is the first founding partner of the A's Community Fund and presenting partner of the A's STEM initiatives including Science of Baseball, a 15-lesson curriculum for teachers. Supports Oakland and East Bay community educational efforts.
• San Francisco 49ersminorGTM or Marketing PartnerChevron is the founding partner of 49ers EDU, providing learning platforms for K-8 students through STEM principles content. Program has reached more than 210,000 Bay Area students and educators with over 60% from Title I Designated schools.
• Catalyst (Non-profit)minorStrategic or Co-development PartnerChevron partners with Catalyst, a non-profit organization, to deliver the MARC (Men Advocating Real Change) program launched in 2017. MARC is active in over 35 Chevron locations on six continents with over 5,000 participants since inception.
• Techbridge GirlsminorStrategic or Co-development PartnerChevron supports Techbridge Girls to inspire girls to discover a passion for STEM through hands-on learning, including making circuits, designing buildings, working with mentors, and family resources to empower the next generation of female innovators and leaders.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• 1PointFive (Occidental Petroleum): 1PointFive is Occidental's dedicated CCUS subsidiary, building the Stratos direct air capture hub and pursuing carbon sequestration projects. Most direct CCUS-focused competitor with an oil-major parent and comparable investment strategy.
• ExxonMobil Low Carbon Solutions: ExxonMobil's Low Carbon Solutions is the most direct peer — the CCUS investment arm of an integrated oil major. Comparable in mandate (carbon capture, storage, lower-carbon investments), parent-company scale, and strategic positioning within a publicly traded supermajor.
• BP Alternative Energy: BP's alternative energy business invests across CCUS, hydrogen, and renewables with similar strategic intent. Comparable as a major integrated oil company's energy transition investment vehicle, though BP has also made large venture-style bets in adjacent clean tech.
• Equinor New Energy Solutions: Equinor's New Energy Solutions division focuses on CCUS (Sleipner, Northern Lights), hydrogen, and renewable energy investments. Comparable as an integrated oil major's energy transition investment arm with deep offshore CCUS expertise.
• TotalEnergies One Tech: TotalEnergies' integrated CCUS and new-energy initiatives span carbon capture, hydrogen, and renewable energy. Comparable as a European integrated major's diversified lower-carbon investment portfolio targeting similar offtake sectors.
• Shell Energy Transition: Shell's energy transition portfolio spans CCUS, hydrogen, and renewable fuels comparable to Chevron New Energies. Shell is a global CCUS leader with the Quest project and multiple European hub investments under a similar oil-major investment mandate.

Emerging players

• Climeworks: Climeworks operates direct air capture facilities and has partnered with major energy companies. Comparable in the broader CCUS space with a DAC focus — both a competitor for carbon credit offtake and a potential strategic partner or portfolio company.
• CarbonCure Technologies: CarbonCure is a Canadian CO2-utilization company injecting captured carbon into concrete. Both a potential portfolio target for Chevron New Energies and an adjacent CCUS competitor operating in the utilization subsegment.
• C-Quest Capital: C-Quest Capital is a carbon project developer and investor focused on CCUS and nature-based carbon. Comparable as a CCUS-focused investment entity with overlapping mandate in carbon project finance and emerging market deployment.

Broad incumbents

• Chevron Technology Ventures: Chevron Technology Ventures is the broader corporate venture capital arm of Chevron, investing across digital, AI, and emerging energy technologies. Sister organization to Chevron New Energies with overlapping mandate and shared parent capital, making it a closely adjacent peer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xtwitter.com/chevron
• YouTubeyoutube.com/user/Chevron
• Facebookfacebook.com/Chevron
• LinkedInlinkedin.com/company/chevron
• Instagraminstagram.com/chevron
• TikToktiktok.com/@chevron

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chavron New Energies