Chevron, Brightmark Expand US Biomethane JV
Oil and gas major Chevron is expanding its renewable gas (RNG) joint venture in the US with waste solutions firm Brightmark, it said February 17.
The pair will inject more equity into the joint venture, to build and operate five dairy biomethane projects in Michigan and Arizona. The joint venture, Brightmark RNG Holdings, already owns renewable gas projects in west New York, west Michigan, central Florida and South Dakota.
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Chevron will buy the biomethane from the new projects for use as fuel for vehicles operating on compressed natural gas.
"Working with Brightmark to add new projects underpins our commitment to supplying the world with affordable, reliable and ever-cleaner energy," Chevron's president for Americas fuels and lubricants, Andy Walz, said. "It’s an exciting time for Chevron as we continue to help advance the energy transition and help industries and consumers that use our products build a lower carbon future."
"We are delighted to expand our partnership with Chevron to further accelerate Brightmark’s mission to reimagine waste and ambition of achieving a global net-zero carbon future," Brightmark CEO Bob Powell added. "The joint venture’s current RNG projects are on track to become fully operational as planned and with this additional investment, we look forward to extending the reach of our lifecycle carbon negative projects throughout the U.S., with plans for future international expansion."