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The Chevron oil giant and the engine no. 1, an activist fund, are associated with building a new company that will develop scalable, Reliable power Solutions for US -based data centers with U.S. Natural Gas.
The merger, together with GE Vernova, aims to establish the first Central and Data Center co-located on a multi-Gigawatt scale.
A press release From Chevron states that projects will serve co-located data centers in the Southeast United States, Midwest and West regions. These developments will provide the equivalent of power for more than 3 million homes.
![Chevron](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/931/523/Chevron-California-Texas.jpg?ve=1&tl=1)
A Chevron gas station in Rodeo, California, USA, on Wednesday, June 19, 2024. Chevron Corp is expected to be Release results on August 2. (Photographer: David Paul Morris / Bloomberg through Getty Images / Getty Images)
“We are proud to play our role to bring to the vision the Vision of President Trump for a new American Armana AgePowered by our huge energy labor and unmatched work, “said Chevron’s CEO and President Mike Wirth and strengthen our national security.”
This plan will initially ignore the existing transmission network, reducing the risk of increasing electricity costs, said the company.
GEV Price of shares (+25.15) | Budget, graphic and news for GE Vernova Inc. To Fox Business
![GE executives applaud](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/01/931/523/ge-vernova.jpg?ve=1&tl=1)
GE CEO and CEO of GE Aerospace, Lawrence Culd, Jr., (3rd l) and CEO of GE Vernova Scott Strazik (2nd R) sound the opening bell on the New York Stock Exchange (NYSE ) On April 2, 2024 in New York City. (Timothy A. Clary / AFP through Getty Images / Getty Images)
Companies say that the effort will directly address the need for affordable and reliable energy, which will meet the demand for electricity for US data centers and to develop AI generations in the United States.
![Chevron gasolinization](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/11/931/523/chevron-corporation.jpg?ve=1&tl=1)
A gas station from Chevron to Los Angeles, California. (Mario Tama / Getty Images / Getty Images)
Chris James, Founder and Investment Director of the Motor no. 1, said: “Energy is the key to America You have domain. Using domestic natural gas abundant to generate electricity directly connected to the data centers, we can achieve the leadership of the AI, promote productivity gains throughout our economy and restore the position of the United States as an industrial superpower. This collaboration with Chevron and GE Vernova addresses the biggest energy challenge we face. ”
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The project will also integrate carbon capture and storage and renewable energy resources. Currently, the goal is to put the plan into action until the closure of 2027 with the potential of expansion after that.