Chevron Corp. has announced its investment in Zap Energy, a star-up company developing a next-generation modular nuclear fusion reactor, Kallanish Energy reports.
The California-based O&G giant said it had made what it called a Series A investment in Zap Energy, based in Seattle, Washington.
Chevron Technology Ventures said its investment in fusion is an opportunity to enhance the company’s focus on a diverse portfolio of low-carbon energy resources with the capacity to provide communities with affordable, reliable and ever-cleaner energy.
“We see fusion technology as a promising low-carbon future energy source,” said Barbara Burger, president of Chevron Technology Ventures, in a statement.
Chevron said it believes that Zap Energy is “likely to have a role in the energy transition,” she said.
Conventional nuclear power uses nuclear fission which involves splitting a large unstable nucleus into smaller elements and generates long-lived radioactive wastes.
Nuclear fusion occurs when nuclei of lightweight elements, typically hydrogen, collide with enough force to fuse and form a heavier element. The process releases substantial energy and no greenhouse gas emissions and limited long-lived radioactive waste.
Zap Energy’s technology stabilizes plasma using sheared flows to confine and to compress the plasma, the companies said.
The company, founded in 2018, will use the Chevron funds to continue technology development and to grow its development team.
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