Chevron Pursues Opportunities in Emerging Biofuels Sector

Chevron Corporation said it has formed a biofuels business unit to advance technology and pursue commercial opportunities related to the production and distribution of ethanol and biodiesel in the United States.

Chevron will officially announce the business unit today in Galveston, Texas, where the company is participating in a groundbreaking ceremony to inaugurate construction of one of the first large-scale biodiesel plants in the U.S.

Chevron is investing across the energy spectrum to develop energy sources for future generations by expanding the capabilities of today’s alternative and renewable energy technologies. Since 2000, Chevron Corporation through its various subsidiaries has invested more than $1 billion in renewable energy projects and in delivering energy efficiency solutions. Focus areas include geothermal, hydrogen, biofuels, advanced batteries, as well as wind and solar technologies. Chevron is the largest renewable energy producer among global oil and gas companies, producing 1,152 megawatts of renewable energy, primarily from geothermal operations in Indonesia and the Philippines.

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