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Investments

166

Portfolio Exits

35

Funds

8

Partners & Customers

2

About Chevron Technology Ventures

Chevron Technology Ventures pursues business solutions and technologies with the potential to improve Chevron's base business operations by sponsoring and demonstrating emerging technologies and championing their integration into Chevron to improve business value. Chevron Venture Capital finds, sponsors and demonstrates early stage technology and champions its integration into Chevron. Chevron VC invests in companies at any phase in the development cycle – from providing early-stage seed investment to offering capital for full-scale commercialization – and helps transfer the technology into the business.

Chevron Technology Ventures Headquarter Location

6001 Boulinger Canyon Road Room 5204

San Ramon, California, 94583,

United States

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Expert Collections containing Chevron Technology Ventures

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Chevron Technology Ventures in 5 Expert Collections, including Synthetic Biology.

S

Synthetic Biology

382 items

P

Pharma Startups

5,090 items

Pharmaceutical companies working across drug discovery, drug development and drug manufacturing.

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

I

Industrial SynBio

382 items

Synthetic biology focused on replacing industrial and commercial materials.

G

Genomics

391 items

Investors that invest in genomics AND have made at least 10 investments (across sectors) in the past 12 months

Research containing Chevron Technology Ventures

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Chevron Technology Ventures in 1 CB Insights research brief, most recently on Sep 27, 2021.

Latest Chevron Technology Ventures News

Sapphire Technologies Closes Series A Funding Round with Investments from Cooper and Company, Equinor Ventures and Chevron Technology Ventures

Oct 13, 2021

Sapphire Technologies Closes Series A Funding Round with Investments from Cooper and Company, Equinor Ventures and Chevron Technology Ventures CERRITOS, Calif., October 12, 2021-- Sapphire Technologies today announced that it has closed its Series A round led by Cooper and Company and joined by Equinor Ventures and Chevron Technology Ventures. The investment capital will be used to scale up manufacturing and distribution of Sapphire’s energy recovery systems for pressure let-down applications. Sapphire Technologies is a spin-off from Calnetix Technologies, known for its disruptive innovations in high-speed motors and generators, magnetic bearings and power electronics for a variety of applications and industries. These technologies are being applied by Sapphire in its FreeSpin™ In-line Turboexpanders (FIT), which offset carbon emissions by converting waste pressure energy into clean and usable electric power. “As leaders in financing low carbon projects, Cooper and Company, Equinor and Chevron will be invaluable partners to accelerate the growth of Sapphire’s energy recovery business globally,” said Freddie Sarhan, CEO of Sapphire. “We look forward to working with them to achieve our vision of providing affordable, reliable and clean electricity that will enable the world’s transition to a lower carbon future.” “We are delighted to be partnering with Equinor and Chevron in helping to bring Sapphire’s clean energy technology to a global market,” said Adam Mikkelsen, Principal at Cooper and Company. “Sapphire’s technologies combine zero carbon electricity with compelling economic returns, and we believe we’ll see widespread adoption within the energy industry.” “Equinor’s ambition is to become a net-zero energy company by 2050, and new solutions and technologies will be required for society at large to meet its climate targets. We are pleased to announce the investment in Sapphire as one contributor to help the energy industry reduce emissions and improve energy efficiency,” said Gareth Burns, Head of Equinor Ventures. “Sapphire’s FreeSpin expander technology enables waste energy recovery across multiple industrial applications, potentially reducing carbon emissions while increasing operating efficiency,” said Barbara Burger, Vice President of Innovation and President of Technology Ventures for Chevron. “This is the latest investment from our $300 million Future Energy Fund II, launched in February 2021, which focuses on industrial decarbonization, emerging mobility, energy, decentralization and the growing circular carbon economy.” Click here for Sapphire Technologies’ Logo. About Sapphire Technologies Based in Cerritos, Calif., Sapphire Technologies develops, manufactures and sells energy recovery systems for both natural gas and hydrogen industrial and commercial applications. These reliable and sustainable systems are specifically designed to convert the energy wasted in pressure reduction processes into clean electric power without interrupting manufacturing or processing activities. Sapphire Technologies is a subsidiary of Calnetix Technologies. About Cooper and Company Cooper and Company is a private investment company based in Newport Beach, Calif., that acquires and actively develops assets on a long-term ownership basis. It has been a key shareholder of Calnetix Technologies for over 20 years and capital partner to Calnetix’s innovative subsidiaries. For more information, visit http://www.cooperandcompany.org. About Equinor Ventures Equinor Ventures is Equinor’s corporate venture capital arm dedicated to investing in ambitious early phase and growth companies. We believe that the innovation, creativity and agility of start-ups can drive change, and transition the energy industry towards a low carbon future. About Chevron Technology Ventures Chevron Technology Ventures (CTV) pursues externally developed technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and ever-cleaner energy. CTV leverages innovative companies and technologies to strengthen Chevron’s core operations and identifies new opportunities to shape the future of energy. For more information, visit http://www.chevron.com/technology/technology-ventures. Contact:

Chevron Technology Ventures Investments

166 Investments

Chevron Technology Ventures has made 166 investments. Their latest investment was in Sapphire Technologies as part of their Series A on October 10, 2021.

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Chevron Technology Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/12/2021

Series A

Sapphire Technologies

Yes

3

9/13/2021

Series C

Hydrogenious LOHC Technologies

$17.7M

Yes

5

9/13/2021

Series B

gr3n

$7.42M

Yes

Standex International, and Undisclosed Investors

5

7/21/2021

Series B

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$99M

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10

6/8/2021

Corporate Minority - II

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$99M

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10

Date

10/12/2021

9/13/2021

9/13/2021

7/21/2021

6/8/2021

Round

Series A

Series C

Series B

Series B

Corporate Minority - II

Company

Sapphire Technologies

Hydrogenious LOHC Technologies

gr3n

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Amount

$17.7M

$7.42M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Standex International, and Undisclosed Investors

Sources

3

5

5

10

10

Chevron Technology Ventures Portfolio Exits

35 Portfolio Exits

Chevron Technology Ventures has 35 portfolio exits. Their latest portfolio exit was Spear Power Systems on August 23, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/23/2021

Acquired

2

7/1/2021

Acquired

1

4/9/2021

Acquired

1

00/00/0000

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10

00/00/0000

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$991

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10

Date

8/23/2021

7/1/2021

4/9/2021

00/00/0000

00/00/0000

Exit

Acquired

Acquired

Acquired

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Companies

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Valuation

$991

Acquirer

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Sources

2

1

1

10

10

Chevron Technology Ventures Fund History

8 Fund Histories

Chevron Technology Ventures has 8 funds, including Chevron Technology Ventures Fund VII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/29/2019

Chevron Technology Ventures Fund VII

$90M

2

9/24/2013

CTV Fund V

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$99M

10

8/31/2007

CTTV Investments Fund IV

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$99M

10

10/1/2001

CTTV Investments Power & Energy I

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$99M

10

3/1/2001

CTTV Investments Fund II

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$99M

10

Closing Date

3/29/2019

9/24/2013

8/31/2007

10/1/2001

3/1/2001

Fund

Chevron Technology Ventures Fund VII

CTV Fund V

CTTV Investments Fund IV

CTTV Investments Power & Energy I

CTTV Investments Fund II

Fund Type

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Status

Amount

$90M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Chevron Technology Ventures Partners & Customers

2 Partners and customers

Chevron Technology Ventures has 2 strategic partners and customers. Chevron Technology Ventures recently partnered with WISER Systems on September 9, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

9/18/2018

Vendor

WISER Systems

United States

Chevron Technology Ventures Selects WISER Systems for Catalyst Program — Wiser Systems

`` We 're proud and excited to continue enhancing , adapting , and integrating our technology into the oil and gas industry in partnership with Chevron Technology Ventures , '' said WISER CEO Dr. Elaine C. Rideout .

3

8/23/2017

Vendor

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10

Date

9/18/2018

8/23/2017

Type

Vendor

Vendor

Business Partner

WISER Systems

Country

United States

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News Snippet

Chevron Technology Ventures Selects WISER Systems for Catalyst Program — Wiser Systems

`` We 're proud and excited to continue enhancing , adapting , and integrating our technology into the oil and gas industry in partnership with Chevron Technology Ventures , '' said WISER CEO Dr. Elaine C. Rideout .

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Sources

3

10

Chevron Technology Ventures Team

3 Team Members

Chevron Technology Ventures has 3 team members, including former President, Dana Flanders.

Name

Work History

Title

Status

Dana Flanders

President

Former

Greg Vesey

President

Former

James Gable

Managing Director

Former

Name

Dana Flanders

Greg Vesey

James Gable

Work History

Title

President

President

Managing Director

Status

Former

Former

Former

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