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

2021-03-01 07:03:00



“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.