There's nothing like 200-plus-year-old companies teaming up for the 22nd Century.
Oil giant Chevron and Weyerhauser, which has been in the lumber business since 1900, have formed a 50-50 joint venture called Catchlight Energy that will focus on developing fuels from cellulose-based biomass, like wood chips. Both companies have been working with various universities, such as Georgia Tech, on biofuel research, and this gives them a way to share information.
Chevron's Michael Burnside has been appointed CEO of the venture.
Some will no doubt boo and hiss this deal. Here we have two of the oldest companies focused … Read more