Chevron investing in hydrogen

Chevron Corporation CVX is investing into lower carbon solutions like hydrogen as they aim to reduce emissions and lower carbon footprint.

“Chevron is committed to developing and delivering affordable, reliable, ever-cleaner energy," said Andy Walz, president, Chevron Americas Fuels & Lubricants in a statement while announcing his company's collaboration with Cummins Inc.CMI, a leader in hydrogen technology to explore a potential collaboration for generating commercially feasible business prospects in hydrogen.

Walz said that Chevron is investing in lower-carbon solutions like hydrogen. He added that the company is also putting money on producing and delivering renewable natural gas, mixing renewables with its fuels, coprocessing biofeedstocks in its refineries and taking emission-reduction initiatives to lower its carbon footprint.

The MOU establishes a framework for both companies to work closely on four main goals: promoting hydrogen as a decarbonizing alternative for transportation and industry through public policy; increasing market demand for hydrogen-powered commercial cars and industrial uses; constructing infrastructure to enable hydrogen usage in industries and fuel cell vehicles and researching on how Cummins’ electrolyzer and fuel cell technology may be used in one or more of Chevron's domestic refineries.