Royal Dutch Shell’s corporate venture capital arm Shell Ventures announced investments in Canadian biofuel start-up Forge Hydrocarbons Corp. The fund will help build a first-of-its-kind biofuel production plant in Sombra, Ontario, Canada.
The Forge Hydrocarbons new biofuel plant would have a production capacity of 7.5 million gallons of renewable fuels annually. The production plant will create more than 150 construction and engineering jobs for locals.
The major deals by Shell are featured below:
February 2020: Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell announced that the company has formally closed the sale of Shell’s Martinez Refinery in California to PBF Holding Company LLC (PBF), for approximately $1.2 billion.
September 2019: Saudi Arabian Oil Company (Saudi Aramco) has announced the completions of acquisition of Shell Saudi Arabia (Refining) Limited’s 50% interest in the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for $631 million.
July 2019: Shell completed the sale of upstream interests in Shell Olie-og Gasudvinding Danmark B.V to Norwegian Energy Company ASA for $1.9 billion.
About Shell Ventures
Shell Ventures is a venture capital arm of Royal Dutch Shell plc. The company was formed in 1996, as one of the first corporate venture funds in the oil and gas industry. It targets startups and Small & Medium Enterprises (SMEs) from their early stages to their scale growth. The company’s investment focus is a mix of oil and gas, renewable energy, new fuels for transport, smart mobility and digital.
Royal Dutch Shell is a leading global group of energy and petrochemical companies, which is headquartered in the Netherlands and incorporated in the United Kingdom. The company has more than 86,000 employees in nearly 70 countries of the world. The Shell’s business includes oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.