Energy giant Chevron Corporation (NYSE: CVX) recently revealed that the company’s renewable energy subsidiary, Chevron Renewable Energy Group, will provide biofuels for cooking solutions provider, Restaurant Technologies. Following the news, shares of the company gained 2.66% in yesterday’s trading session to close at $159.97 in extended trade. The Partnership Entails Carbon Footprint Reduction The partnership is aimed at reducing the carbon footprint of Restaurant Technologies’ commercial vehicle fleet. Interestingly, the biofuels will be made from the millions of gallons of used cooking oil from Restaurant Technologies’ major restaurant chains across the U.S.
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