Baseload Capital, a Swedish company specialised in funding the deployment of heat power worldwide, has closed a USD25 million funding round with Chevron Technology Ventures as a new strategic investor.

“In August, we announced that we were looking for a new strategic investor to help us accelerate deployment in our key markets,” says Baseload Capital CEO Alexander Helling.

“Chevron’s investments in geothermal power reflects our ongoing efforts to help advance the world’s transition to a lower carbon future,” says Barbara Burger, vice president, innovation and president of technology ventures at Chevron. “We look forward to working with Baseload Capital to expand geothermal resources in the US and internationally.”

Read more at Private Equity Wire