Energizing California - Chevron

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Energizing California Milken Institute In 2007, Chevron announced the launch of Catchlight Energy LLC, a joint venture with Weyerhaeuser, the forest products company. Catchlight’s objective is to combine the technology and expertise of both companies to research and develop technology for converting cellulose-based biomass into economical low-carbon fuel. Solar energy is yet another option with great potential in California’s sunny climate. In 2007, Chevron Energy Solutions (CES) participated in an $11.9 million initiative to design and build a solar-powered project that generates renewable power for California State University, Fresno, creating a project that can serve as a template for future green development. Chevron Energy Solutions also completed the U.S. Postal Service’s largest solar and energy-efficiency system, at the USPS Processing and Distribution Center in Oakland. It reduces the center’s purchased power by more than one-third. Chevron Energy Solutions has installed other energy-efficiency and renewable power systems for the Postal Service at other locations throughout Northern California. The Collaborative for High Performance Schools awarded CES with the 2008 Green Apple Award for Climate Change, in recognition of their efforts helping school districts develop energy efficiency and solar energy solutions. Among their projects, CES is building and maintaining a 5.4-megawatt solar power system for the San Jose Unified School District (California). With this in place, the district stands to enjoy energy savings in excess of $25 million. Furthermore, with a 25 percent reduction in its demand for utilities, the system will help reduce approximately 40,000 tons of carbon dioxide emissions, equivalent to planting 400 acres of trees. Chevron is also utilizing solar technologies to support its oil-field operations. In the San Joaquin Valley, CES collaborated with Energy Conversion Devices Inc. to complete Solarmine, the first photovoltaic facility in California to help power oil-field operations. • To enhance productivity, Chevron is making major investments in new production in the San Joaquin Valley and in upgrades of its refineries in El Segundo and Richmond. • Chevron is investing in alternative forms of energy, including “cellulosic” and solar technologies. In addition to implementing innovations that will improve its own energy efficiency, the firm also recycles water reclaimed from oil-field steam technology in Bakersfield. • In 2007, Chevron spent approximately $750 million on small, minority-, and women-owned businesses in the state of California. • The firm funds research and applied degree programs at California universities. In addition, Chevron employs approximately 250 graduates each year from the University of California system. • The presence of Chevron has a positive impact on sustained growth, public contributions, and civic engagement. 5
Energizing California Milken Institute Supporting Entrepreneurship and Developing Human Capital Chevron has a diverse venture capital strategy, with investments extending beyond its core focus on crude oil and natural gas. Over the years, the firm has accumulated vested interests in many early-stage and growing companies engaged in activities related to oil and gas, advanced technology, and renewable energy. Chevron is also attempting to improve the availability of highly specialized human capital in the state by establishing the Center of Excellence for research and academic training on Interactive Smart Oilfield Technologies (CiSOFT), a joint effort with the University of Southern California. The center supports cross-disciplinary research and collaboration in engineering, integrated media, and information sciences. CiSOFT offers a master’s degree program in petroleum engineering, producing graduates who will be at the cutting edge of innovations in oilfield operations. Addressing Conservation Chevron has been able to sustain high levels of production at its Kern River oil field through its use of steam technology. As a byproduct of this process, approximately 350,000 barrels of water are recycled each day for use in agricultural irrigation, mitigating the region’s water shortage. Chevron’s conservation efforts are not restricted to water-use issues alone. The firm has actively supported research on the possible benefits of using underwater oil rigs to form the basis of artificial reef habitats for marine life. While preserving the underwater portion of rigs is undoubtedly a money-saving strategy for Chevron, the firm hopes to prove that doing so would result in a win-win situation for the environment. Building Social Capital The presence of a large corporate headquarters can benefit its surrounding region in a variety of ways. Corporations actually headquartered in California are better positioned to recognize and address local challenges. Chevron’s supply network in California encompasses vendors in diverse industries, creating a foundation for a broad industry cluster that bolsters the entire state economy. The small- and medium-sized enterprises (SMEs) that typically benefit from this phenomenon can be important drivers of economic growth. Increasingly, many of these firms are headed by women or minorities, who may have difficulty leveraging the programs that are available to support their growth strategies. Chevron’s response to this issue is its Supplier Diversity/Small Business Program, an inclusive entrepreneurial initiative that includes training, outreach, and certification efforts. In addition, the presence of Chevron (as with any large corporate headquarters) has positive impact on sustained growth, public contributions to nonprofits, and civic engagement. 6
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Energizing California - Chevron

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