Collaboration to Focus on Next-Generation Production Technologies for
Renewable Fuels
SAN RAMON, Calif., Oct. 4 /PRNewswire-FirstCall/ -- Chevron Corporation
(NYSE: CVX) and the U.S. Department of Energy's (DOE) National Renewable
Energy Laboratory (NREL), headquartered in Golden, Colo., today announced a
strategic research alliance to advance the development of renewable
transportation fuels.
Chevron Technology Ventures LLC (CTV), a subsidiary of Chevron
Corporation, and NREL have signed a five-year agreement to research and
develop new production technologies for biofuels. Researchers from CTV and
NREL will collaborate on projects to develop the next generation of process
technologies that will convert cellulosic biomass, such as forestry and
agricultural wastes, into biofuels such as ethanol and renewable diesel.
"Our goal is to further diversify the world's energy sources in order
to help meet the growth in future energy demand," said Don Paul, vice
president and chief technology officer, Chevron Corporation. "Through this
public- private collaboration we hope to broaden the energy mix by
accelerating the development of the next generation of process technologies
that will convert cellulosic biomass into biofuels. Process efficiency and
suitability for industrial-scale deployment, similar to today's
transportation infrastructure systems, are key success factors."
NREL's participation in the alliance upholds the DOE's mission to
advance the national, economic and energy security of the United States and
to promote scientific and technological innovation in support of that
mission.
"Increasing the amount of fuels we can make from America's farms,
forests and fields will greatly enhance the nation's energy security and
economy and help the environment," said Dan Arvizu, director, NREL.
"Agreements such as this will help us accomplish that."
CTV also will fund research that complements DOE-sponsored work at NREL
on bio-oil reforming, a process by which bio-oils derived from the
decomposition of biological feedstocks are then converted into hydrogen.
This research may expedite the development of a feed-flexible,
distributed-reforming process for renewable hydrogen production as well as
provide the hydrogen necessary in some potential biofuels conversion
technologies.
"We believe that for the next generation of biofuels production to
become commercially viable there must be flexibility to diversify the
feedstocks, and the processes by which the biofuels are produced must also
increase in efficiency and effectiveness," said Rick Zalesky, vice
president, Biofuels and Hydrogen, CTV. "This research will address both of
these fundamental challenges."
The alliance with NREL is the third biofuels research partnership
launched by Chevron this year. Chevron recently announced research
initiatives with the University of California at Davis and the Georgia
Institute of Technology focusing on cellulosic biofuels enabled by advanced
manufacturing technologies for distributed energy production.
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 spent more than $1.5
billion on renewable energy projects and on delivering energy efficiency
solutions. Focus areas include geothermal power, biofuels, hydrogen and
advanced batteries as well as application of 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.
About Chevron Technology Ventures (CTV)
CTV, a subsidiary of Chevron Corporation, identifies, develops and
commercializes emerging technologies and new energy systems including
hydrogen-related technologies, advanced energy storage technologies,
renewable energy and nanotechnology. Chevron is one of the world's leading
energy companies. With more than 53,000 employees, Chevron subsidiaries
conduct business in approximately 180 countries around the world, producing
and transporting crude oil and natural gas, and refining, marketing, and
distributing fuels and other energy products. Chevron is based in San
Ramon, Calif. More information about Chevron is available at
http://www.chevron.com .
About the National Renewable Energy Laboratory (NREL)
NREL is the U.S. Department of Energy's (DOE) primary national
laboratory for renewable energy and energy efficiency research and
development. NREL is operated for the DOE by Midwest Research Institute and
Battelle.
NREL supports the DOE's Office of Energy Efficiency and Renewable
Energy (EERE) Biomass Program. NREL is the lead national laboratory of the
virtual National Bioenergy Center, which was established to support and
help the DOE coordinate the nation's biomass research activities. The
center has primary responsibility for carrying out the agenda of the Office
of the Biomass Program of the EERE and other related goals. Collaborating
with industrial, academic, related EERE programs and other governmental
research, development and commercialization efforts is central to that
agenda.
Cautionary Statement Relevant to Forward-Looking Information for the
Purpose of "Safe Harbor" Provisions of the Private Securities Litigation
Reform Act of 1995.
Some of the items discussed in this press release are forward-looking
statements about Chevron's operations. The statements are based upon
management's current expectations, estimates and projections; are not
guarantees of future performance; and are subject to certain risks,
uncertainties and other factors, some of which are beyond the company's
control and are difficult to predict. You should not place undue reliance
on these forward-looking statements, which speak only as of the date of
this press release. Unless legally required, Chevron undertakes no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Chevron Corporation
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Related links:
http://www.chevron.com/
CONTACT:
Leif Sollid of Chevron Corp.,
+1-925-842-3422; or George Douglas of NREL, +1-303-275-4096
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