Chevron to launch Israeli energy

Chevron Technology Ventures and Chevron Mediterranean Limited launched Chevron Studio Israel in Herzliya on Tuesday in partnership with EnergyCom, Israel’s Energy Innovation Community, according to a company announcement.

The program, being launched outside the United States for the first time, aims to accelerate the commercialization of early-stage technologies developed at Israeli universities and research institutions.

It will focus on AI for energy, cybersecurity, carbon utilization, energy infrastructure, heat and power, hydrogen, renewable fuels, circular economy solutions, and robotics.

“As a technology-driven and innovation-focused company, Chevron supports initiatives that push the boundaries of what is possible. Chevron Studio bridges the gap between research and actualization, which will help empower Israeli entrepreneurs and researchers to turn innovative energy and lower-carbon applied research into startup companies,” said Jack Baker, managing director of Chevron’s Eastern Mediterranean region.

Jim Gable, vice president of innovation and president of Chevron Technology Ventures, said the program was designed to accelerate the development and commercialization of breakthrough technologies.

“We look forward to supporting Israel’s vibrant innovation ecosystem and working together to create real, lasting impact,” Gable said.

The Israel program will offer entrepreneurs and research teams a three-phase, funded acceleration track that includes funding, mentorship, and access to technical experts from Chevron and EnergyCom. Applicants will be screened and selected by a Chevron Studio advisory committee made up of experts from Chevron, EnergyCom, and the Israeli Energy Ministry.

Research teams will be invited to present technology solutions, while experienced entrepreneurs joining the program will receive access to a curated list of technologies. The entrepreneurs may then be matched with research teams to advance the technology and establish independent new companies.

Israel’s energy-tech sector has drawn growing attention in recent years. The Jerusalem Post reported in June 2024 that Israel’s Energy Tech Landscape Map highlighted more than 160 leading companies in the sector, out of more than 300 firms.

Chevron has also expanded its role in Israel’s energy sector through the Leviathan and Tamar natural gas fields. In January, Chevron approved a Leviathan expansion plan to increase production capacity to around 21 billion cubic meters annually.