media statement Chevron invests in Australian solar power technology developer

Chevron invests in Australian solar power technology developer Raygen

Image supplied by RayGen

Investment aligns with global focus on start-ups with lower carbon technologies

PERTH, Western Australia, 8 June 2021 – Chevron Australia Pty Ltd announced today that Chevron Technology Ventures, LLC has participated in a capital raising round for Melbourne-based solar technology developer RayGen Resources Pty Ltd (RayGen).

The investment, announced today by RayGen, comes from Chevron’s USD$300m Future Energy Fund and will enable RayGen to continue developing its innovative technology.

“This investment is a first in Australia for Chevron Technology Ventures, showcasing RayGen’s merging of solar power generation with long-duration energy storage and underscoring our approach to partnering with innovative developers on a lower carbon future,” said Mark Hatfield, Managing Director of Chevron Australia. 

Read media release on the RayGen website

Cam Van Ast

Phone: +61 439 022 658 (Perth)