On Thursday, US energy giant Chevron Corp. announced its investment in Blue Planet Systems Corp., a startup manufacturing and developing carbonate aggregates and carbon capture technology to curb the carbon intensity of industrial operations.
The investment is made via Chevron’s Future Energy Fund. The fund focuses on startups with lower-carbon technologies that can scale commercially.
Other than that, Chevron and Blue Planet also inked a letter of intent on collaborations on prospective pilot projects and commercial development in some areas.
Blue Planet’s technology potentially enables the permanent capture of CO2 in building materials at scale, converting CO2 to a lower-carbon product for sale in the growing global market of aggregates. Blue Planet’s process of creating carbonate-based building aggregate can cut cost and unit energy consumed during capture as it does not require CO2 purification and enrichment prior to use.
