Chevron and Toyota announced Wednesday a first step towards a strategic alliance to commercialize hydrogen, which is seen as an environmentally-friendly transportation fuel option.

The alliance, which is centered on the United States, is expected to focus on three areas: collaborating on public policy to promote hydrogen infrastructure, assessing the market for fuel cell electric vehicles and the hydrogen supply that will be needed, and exploring opportunities to jointly research and develop hydrogen powered transportation and storage.

The venture aims "to advance a functional, thriving global hydrogen economy," the companies said in a joint press release.

The memorandum of understanding announced Wednesday is non-binding, but "lays out the path to a formalized strategic alliance by early third quarter 2021," a Chevron spokesman said in an email.

At this week's Shanghai motor show, Toyota unveiled plans for its first global line-up of battery electric vehicles, including an SUV expected to reach consumers in just over a year.

Chevron has faced pressure from environmentalists to match commitments by European oil giants like Royal Dutch Shell and Total, which have set targets to reach net-zero carbon emissions.

Chevron said it has no plans to shutter its gas stations.

"Fuels have and will continue to change over time and offering hydrogen at retail sites is a continuation of that change," a Chevron spokesman said.

"Ultimately, consumer preferences help drive the offerings at Chevron-branded retail fuel stations; however, we anticipate that gasoline and diesel will continue to be important offerings that consumers will require. We are committed to the Chevron and Texaco brands, and reliably supplying gasoline and other fuels to our loyal customer base."

At its annual meeting in May, Chevron is expected to battle against a number of shareholder proposals that require specific actions on climate change as well as a measure requiring more disclosure about the company's lobbying activities.

Related Links
All About Oil and Gas News at OilGasDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Natural gas leading source of EU's power emissions: analysis
Paris (AFP) April 16, 2021
Gas power plants overtook lignite coal plants in 2020 to become the European Union's largest single source of emissions from electricity, an analysis of the bloc's Emissions Trading Scheme showed Friday. Gas plants produced 231 million tonnes of carbon dioxide across the continent in 2020 according to the analysis conducted by energy think tank Ember. Emissions from coal plants meanwhile plunged, with lignite emissions falling 23 percent in 2020 compared with 2019. Charles Moore, Ember's Eu ... read more