Chevron (NYSE: CVX) recently revealed plans to build its first solar-to-hydrogen production facility in California. The project would turn non-potable water from its existing operations into an emissions-free fuel source with help from the sun. The clean hydrogen will help support the state's growing need for lower-carbon energy.
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Chevron is involved in the production of high-quality renewable diesel and biodiesel fuels1. They aim to grow their renewable fuels capacity to 100,000 barrels per day by 20301. Recently, Chevron acquired biodiesel maker Renewable Energy Group in a $3.15 billion all-cash deal to boost its clean-energy business2. Additionally, Chevron has committed to sourcing more than 500 megawatts of its electricity demand from renewable sources3.
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