TLDR:
Key Points:
- Chevron Technology Ventures (CTV) has been investing in startups for 25 years.
- CTV has two investment funds totaling $400 million to support industrial decarbonization and emerging technologies.
JPT Exclusive Q&A: Key Insights From Chevron Technology Ventures on Its 25-Year Journey
California-based supermajor Chevron Technology Ventures (CTV) has been investing in startups for the past 25 years, supporting external innovation and gaining insights into change. With two investment funds totaling $400 million, CTV aims to support industrial decarbonization and emerging technologies. Jim Gable, the President of CTV, highlights the company’s significant contributions to the energy industry, emphasizing the importance of external innovation and the role of technology in lower-carbon solutions.
In the Q&A, Gable discusses how CTV maintains balance in its R&D portfolios by diversifying investments and engaging with early-stage companies through programs like Catalyst and Chevron Studio. He also addresses the challenges and barriers inhibiting funding and uptake of new oil and gas technologies, as well as future energy solutions, highlighting the need for risk management and long-term planning.
Gable offers advice to emerging tech ventures on staying focused on their value proposition and understanding the problem of scale. He emphasizes the importance of recruiting and training great people to support an innovative ecosystem, calling on organizations like the Society of Petroleum Engineers (SPE) to help develop the skills needed for the energy transition.
