Corporate venturing unit Chesapeake NG Ventures seals its latest deal with 3M, to work together on compressed natural gas tanks, after the gas company unveiled a $1bn fund last year.
US-based gas company Chesapeake’s corporate venturing unit has invested $10m in a collaboration with US-based industrial conglomerate 3M to design, manufacture and market compressed natural gas tanks for transport.
The investment made by Chesapeake yesterday is intended to help the market development of the 3M-designed tanks and Chesapeake has committed to use the tanks for its corporate fleet conversion to compressed natural gas.
The deal is the latest by Chesapeake NG Ventures Corporation, a corporate venturing unit set up…
