investing in the innovations and innovators of tomorrow
Through our research and development efforts, we systematically identify, develop, qualify, integrate and deploy technology from our research, partnership, joint venture and venture capital investments. This approach gives Chevron access to innovative and value-creating ideas in oil and gas, as well as in the emerging energy landscape, and ensures that we can deploy the right technology in the right place at the right time. Since 2000, Chevron has invested more than $8.5 billion in research and development. This investment supports our businesses globally and is focused on protecting people and the environment, ensuring reliability, efficiency, and productivity for our portfolio now and in the future.
The energy landscape is constantly evolving. That’s why we take an open-innovation approach to technology development and invest in the next generation of energy technology and industry innovators.
In addition to investing in research and development, we invest in the next generation of innovators. Since 2013, our global investment in education has been more than $400 million, which included major funding for programs that promote science, technology, engineering and math (STEM), skills that are needed for careers in the energy industry. To help ensure that tomorrow’s innovators are prepared for college and their future careers, Chevron invested in programs and partnerships, including Project Lead the Way, the Fab Foundation, the National Academy of Engineering, Achieve, the USA Science and Engineering Festival, and the U.S. News STEM Solutions Summit.
As part of our University Partnerships and Association Relations (UPAR) program, we provide multifaceted support to more than 130 colleges, universities and associations around the world to help strengthen faculty, curriculum and student development. Chevron’s global investment in education includes more than $15 million annually in UPAR to help develop academic excellence, research and alliances in STEM education.
cost-effective and impactful actions as an industry leader
Chevron has always been a leader in improving how reliable and affordable energy is developed and delivered to meet global demand. We have demonstrated our ability to innovate and respond to society’s changing needs and expectations over our nearly 140 year history; we will continue to do so as we look forward.