Chevron's decision comes as energy companies face increasing pressure from investors to reduce emissions, spend more on low-carbon energy and disclose the impact of their fossil fuel production on climate change.
Chevron said in a statement, without putting a number on the size of its investment:
- Chevron Technology Ventures' investment in fusion is an opportunity to enhance the company's focus on a diverse portfolio of low-carbon energy resources.
Zap Energy raised $6.5 million from its Series A financing on July 12, 2020 according to data from Crunchbase.