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Major oil giants follow Silicon Valley in support of green energy startups

Large oil companies follow Silicon Valley's footsteps in favor of energy technology startups, suggesting that those who have the best financial resources are looking for new strategies. From Shell to Total and Exxon Mobil, these oil giants are investing in companies that are exploring the edge of new energy technologies and investing in projects to improve the electricity grid and get fresh fuel from renewable sources . Although the funding involved is very small, only a small fraction of the $ 7.5 billion which was invested in the clean-energy industry last year. But with the factors that the government's managing to limit fossil fuel pollution and the global warming , these fundings may become its main source of income in the next few decades .

"In energy industry, small company has quite large subversive strength," the investing director of Shell Science and Technology Ventures said, "we always need to stay alert to ensure that we are ahead of the game." Bala Nagarajan, Investment Director at Norwegian National Oil Company, said: "It is not clear who will be the winner during the transition to clean energy. So, for us, investing is a way of understanding which business models and which technologies may be more successful. These investments help us find our own place in the value chain. " Rick Wheatley from Xynteo Ltd — sustainability and long-term planning consultant for Shell, Nicolet and Eni in Italy, said "many oil companies are still considering how to expand their presence into renewable energy and investing in startups to begin learning and demonstrate ambition. The cost of investing in a drilling project allows them to invest in dozens of start-ups. "The drastic moves by the major oil companies make people aware that the technology in the energy industry is rapidly developing so that everyone starts thinking about what will lead the energy market in the future.

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