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Chevron Invests in Seattle-Based Nuclear Fusion Start-Up
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Chevron Corporation (CVX - Free Report) has announced an investment in Zap Energy, a nuclear fusion start-up company, which is building a next-generation modular nuclear reactor to lower carbon emissions.
This strategic move comes when most energy players were dealing with continuous pressure from investors to cut down on emissions, devote more resources and time toward generating low-carbon energy and explain the impact of their fossil fuel production on climate change.
The company parked money in Zap Energy through Chevron Technology Ventures, thus marking the 10th investment by Chevron’s Future Energy Fund. Per Barbara Burger, president, Chevron Technology Ventures, Future Energy Fund investments lend the company with a discerning knowhow of power-generation markets and the possible side effects of pioneering techniques like fusion, geothermal, wind and solar energies in the traditional power sector.
The funding will be utilised by Zap Energy for technological advancement and expansion of its development team. Founded in 2018, this Seattle-based entity’s objective is to research and build nuclear reactors and further achieve low cost, flexible and commercially scalable fusion. The company’s technology uses sheared flows to confine and compress the plasma used in fusion process.
Chevron sees fusion technology as a promising low-carbon future energy source. Further, management believes that investing in fusion will provide an opportunity to the company to concentrate more on a diversified portfolio of low-carbon energy resources with an ability to offer communities across the globe an easy access to reasonably priced, dependable and ever-cleaner energy.
Price Performance
Shares of this San Ramon, CA-based company have plunged 24.7% year to date compared with the 38.4% decline of its industry.
About the Company
Chevron is one of the largest publicly-traded oil and gas companies in the world with operations spread to almost every corner of the globe. A component of the Dow Jones Industrial Average, this energy player is a fully-integrated company, participating in every energy-related process, ranging from oil production to refining and marketing.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Chevron Invests in Seattle-Based Nuclear Fusion Start-Up
Chevron Corporation (CVX - Free Report) has announced an investment in Zap Energy, a nuclear fusion start-up company, which is building a next-generation modular nuclear reactor to lower carbon emissions.
This strategic move comes when most energy players were dealing with continuous pressure from investors to cut down on emissions, devote more resources and time toward generating low-carbon energy and explain the impact of their fossil fuel production on climate change.
The company parked money in Zap Energy through Chevron Technology Ventures, thus marking the 10th investment by Chevron’s Future Energy Fund. Per Barbara Burger, president, Chevron Technology Ventures, Future Energy Fund investments lend the company with a discerning knowhow of power-generation markets and the possible side effects of pioneering techniques like fusion, geothermal, wind and solar energies in the traditional power sector.
The funding will be utilised by Zap Energy for technological advancement and expansion of its development team. Founded in 2018, this Seattle-based entity’s objective is to research and build nuclear reactors and further achieve low cost, flexible and commercially scalable fusion. The company’s technology uses sheared flows to confine and compress the plasma used in fusion process.
Chevron sees fusion technology as a promising low-carbon future energy source. Further, management believes that investing in fusion will provide an opportunity to the company to concentrate more on a diversified portfolio of low-carbon energy resources with an ability to offer communities across the globe an easy access to reasonably priced, dependable and ever-cleaner energy.
Price Performance
Shares of this San Ramon, CA-based company have plunged 24.7% year to date compared with the 38.4% decline of its industry.
About the Company
Chevron is one of the largest publicly-traded oil and gas companies in the world with operations spread to almost every corner of the globe. A component of the Dow Jones Industrial Average, this energy player is a fully-integrated company, participating in every energy-related process, ranging from oil production to refining and marketing.
Zacks Rank & Key Picks
Chevron currently has a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are Murphy USA Inc. (MUSA - Free Report) , CNOOC Limited (CEO - Free Report) and SilverBow Resources Inc. (SBOW - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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