Chevron Becomes First Major U.S. Oil Company To Invest In Offshore Wind Project

  • 📰 Forbes
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Chevron is the first major U.S. oil company to invest in an offshore wind project

Chevron is the first U.S. oil major to invest in offshore wind power after signing a deal with Norway’s Moreld to help

, while European oil giants Shell, Equinor and Total have already waded deeply into offshore wind projects.... [+]Chevron Technology Ventures , the venture capital arm of Chevron, and Moreld Ocean Wind, a unit of Norwegian industrial firm Moreld AS, agreed to invest in the floating offshore wind turbine technology of Oakland, Calif.-based tech firm Ocergy Inc.

Having secured this funding, Ocergy said it will seek to compete for “gigawatt-scale” commercial energy projects around the world.,” according to Anthony Logan, a senior analyst at energy research firm Wood Mackenzie.has reached out to Chevron for further details.

, president of technology ventures at Chevron, said in a statement."Ocergy has developed technology that could be part of the solution to enable more affordable, reliable, and ever-cleaner energy in a marine environment."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines