press releaseBrightmark, Chevron Announce Vlot Anaerobic Digestion Project

SAN FRANCISCO/SAN RAMON, Calif., Jan. 20, 2022– Brightmark RNG Holdings LLC – a joint venture partnership between Chevron U.S.A. Inc. and Brightmark Fund Holdings LLC, a subsidiary of the global waste solutions provider Brightmark LLC – today announced plans to construct an anaerobic digestion project at Vlot Calf Ranch in Chowchilla, California.

The Vlot anaerobic digestion project is anticipated to capture, clean, and convert methane from manure that would otherwise escape to the atmosphere on the Vlot Calf Ranch and dairy farm into renewable natural gas (RNG). When used in the transportation sector, renewable natural gas from dairy operations has a negative carbon intensity on a lifecycle basis under California’s Low Carbon Fuel Standard. The Vlot Project is Brightmark RNG Holdings LLC’s first renewable natural gas project in the state of California.

"The Vlot Project represents a major milestone for Brightmark and its RNG production efforts," said Bob Powell, founder and chief executive officer of Brightmark. "Being able to partner with Chevron and the Vlot Calf Ranch on our largest RNG project to date and first project in our home state of California represents a particular point of pride for our company and efforts.”

“As a California company, Chevron has provided the state’s residents with affordable, reliable energy for more than 140 years,” said Andy Walz, president of Americas Fuels & Lubricants for Chevron. “Developing and delivering renewable natural gas with Brightmark and the Vlot Calf Ranch, once completed, demonstrates our commitment to working across critical sectors of the state’s economy to increase the supply of fuels with a lower lifecycle carbon intensity.”

“bob体彩靠谱吗可持续性问题和农业hand-in-hand; one cannot exist without the other," said Case Vlot of Vlot Calf Ranch. "As farmers and livestock owners, we take pride in caring for our land and environment because we know that when we do that, it will in turn, take care of us and our animals. It is what farmers, ranchers and dairy farmers do. Innovation in agriculture is constant and ever-changing. This digester is another step in providing environmental benefits to our farm and surroundings. In this case, it's utilizing the manure from our cattle in an anaerobic digester that will help generate those benefits to continue our legacy in sustainability. We are looking forward to seeing this project completed."

The project is expected to be completed in 2023. Other renewable products generated by the project include recycled water back to the farm, biofertilizer and digested dairy fiber, which can be used as cow bedding or as a peat moss substitute.

About Brightmark
Brightmark is a global waste solutions company with a mission to reimagine waste. The company takes a holistic, closed loop, circular economy approach to tackling the planet’s most pressing environmental challenges with imagination and optimism for the future. Through the deployment of disruptive, breakthrough waste-to-energy solutions focused on plastics renewal and renewable natural gas, Brightmark enables programs specifically tailored to environmental needs in order to build scalable project solutions that have a positive impact on the world and communities in which its stakeholders live and work. For more information, visitwww.brightmark.com.

About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available atm.hnqygl.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

此新闻稿包含与雪佛龙的运营和能源转换计划相关的前瞻性陈述，这些陈述是基于管理层的当前预期，估计和预测的关于石油，化学品和其他能源相关行业的预期。“预期”的单词或短语，“预计”，“计划”，“计划，”“目标”，“进步，”“犯下，”“驱动”，“瞄准”，“预测”，“项目”，“项目”，“相信“，‘方法’，‘寻求’，‘时间表’，‘估计’，‘位置’，‘追求’，‘可能’，‘可以’，‘可能’，‘应该’，‘将’，“预算，”‘展望’，‘趋势’，‘指导意见’，‘焦点访谈’，‘步入正轨’，‘目标’，‘目标’，‘策略’，‘机会’，‘风水宝地’，‘潜在’，‘野心’“aspires”和类似的表达式旨在识别此类前瞻性陈述。这些陈述不保证未来绩效，符合某些风险，不确定性和其他因素，其中许多超出公司的控制，难以预测。因此，实际结果和结果可能与在此前瞻性陈述中表达或预测的实际情况不同。读者不应依赖于这些前瞻性陈述的不必依赖，只截至本新闻稿的日期。除非具有法律要求，否则雪佛龙承诺没有义务公开更新任何前瞻性陈述，无论是新信息，未来事件还是其他方式。

中重要的因素,可能导致实际的l results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Contact

Brightmark
Cory Ziskind
Cory.Ziskind@icrinc.com
t。(646)277 - 1232

Chevron
泰勒kruzich.
tkruzich@chevron.com.
t. (925) 549-8686