Baseload Capital closes equity round

2021-03-01

Baseload Capital closes equity round of $25 million with Chevron as new strategic investor.

Baseload Capital, the Swedish company specialized in funding the deployment of heat power worldwide, announces the successful close of a $25 million funding round with Chevron Technology Ventures as a new strategic investor. As an initial outcome of the alliance, Chevron Technical Center and Baseload Capital have already signed a letter of intent to investigate a potential pilot project in California.

“In August, we announced that we were looking for a new strategic investor to help us accelerate deployment in our key markets,” says Baseload Capital CEO Alexander Helling. “We couldn’t have asked for a better one. Chevron complements our group of owners, and adds expertise in drilling, engineering, exploration and more. These assets will accelerate our ability to deploy heat power, and strengthen our way of working.”

The potential pilot projects and commercial projects with Chevron Technical Center are designed to advance lower-carbon energy production. As Baseload Capital continues to develop heat power plants worldwide, Baseload and Chevron will look for commercial heat power opportunities in common geographies where Chevron operates. Heat power is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat.

“Chevron’s investments in geothermal power reflects our ongoing efforts to help advance the world’s transition to a lower carbon future,” said Barbara Burger, vice president, innovation and president of technology ventures at Chevron. “We look forward to working with Baseload Capital to expand geothermal resources in the U.S. and internationally.”

This information is information that Baseload Capital Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 AM CET on the first of March 2021.

For more information, please contact:
Alexander Helling CEO of Baseload Capital
alexander.helling@baseloadcap.com

About Chevron Technology Ventures

Chevron Technology Ventures (CTV) pursues and invests in 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. The Baseload Capital investment came from Chevron’s Core Venture Fund which invests in technology that has the potential to add efficiencies to Chevron’s core business in the areas of operational enhancement, digitalization, and lower carbon operations including geothermal.

For more information, visit www.chevron.com/technology/technology-ventures

RELATED POSTS

The first children’s book about geothermal energy released in Taiwan: Our Hidden powers 

The children's book "Our Hidden Power" from Sweden is officially published in Traditional Chinese – "我們的隱藏力量:風光水火土  打造永續地球", as the first children’s book in Taiwan to introduce geothermal and renewable energy.

BASELOAD POWER TAIWAN SIGNS MOU WITH ACADEMIC PARTNERS TO COLLABORATE ON GEOTHERMAL ENERGY EDUCATION AND TALENT DEVELOPMENT IN TAIWAN

Taipei, Taiwan (May 18, 2023) – Located along the Pacific Ring of Fire, Taiwan is known for its abundant geothermal energy, estimated at a potential 40GW.

地熱能源開發商倍速羅得攜手花蓮紅葉國小,齊力守護太魯閣族歌謠樂舞與文化傳承

花蓮縣萬榮鄉紅葉國小近年翻轉教育思惟,不囿於偏鄉匱乏,不盲目追求第一,重塑傳統文化課程,帶領孩子看見所處的美好土地與文化瑰寶,以作為獨一無二的部落後代,感到榮耀與自信。
1 2 3 8
menuchevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram