Shearman & Sterling advised Chevron Technology Ventures in its investment in the Series B round of financing of Gr3n, a Swiss recycling company. Chevron Technology Ventures joins a consortium of investors. Gr3n plans to use the proceeds from the financing to further pursue its aim of becoming the leading global provider of recycled Polyethylene Terephthalate (PET) and polyester. Gr3n’s technology breaks down any type of PET and polyester plastic to allow for potentially endless recycling loops.
Chevron Technology Ventures was launched in 1999 to identify and integrate externally developed technologies and new business solutions with the potential to enhance the way Chevron produces and delivers affordable, reliable and ever-cleaner energy now and into the future.