Chevron invests in carbon capture tech firm

Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology

Chevron New Energies has expanded its CCS technology portfolio by becoming the lead investor in a $45m funding round by ION Clean Energy, a Colorado-based company that specialises in post-combustion capture systems. Chevron said it will look to use ION’s ICE-31 technology, which uses a liquid amine capture system, to service customers with high volume and low concentration CO₂ emissions. The investment also provides Chevron with the opportunity to partner with ION customers on projects to accelerate the scale-up of the technology. “ION’s solvent technology, combined with Chevron’s assets and capabilities, has the potential to reach numerous emitters and support our ambitions of a lower-carbo