Chevron Corporation’s CVX subsidiary Chevron U.S.A. Inc. recently inked agreements with one of the world's leading integrated energy and commodities firms Mercuria Energy Trading (Mercuria) to form a joint venture (JV). The new JV will buy American Natural Gas LLC (ANG), a Saratoga Springs, New York-based company, which operates 60 compressed natural gas (CNG) stations across the United States.The transaction is part of Chevron’s attempt to develop a large-scale, vertically integrated renewable natural gas business in America. The company is developing projects to create renewable natural gas from cow manure across the country through partnerships with Brightmark and California Bioenergy. The integrated energy firm will be able to swiftly expand its renewable natural gas value chain, courtesy of this joint venture, which will complement its previously announced plan to open more than 30 Chevron-branded CNG stations by 2025.Chevron aims to produce 10 times more renewable natural gas by 2025 than it did in 2020 as part of its greater returns, lower-carbon strategy. This acquisition will help the company expand its renewable natural gas business and assist clients to minimize their carbon footprint.Energy companies face the onus of finding new lines of business as investors and activists keep emphasizing on climate-change concerns. The entire energy sector is prepping for a tremendous transformation in renewable energy resources for powering all industrial fields as global warming persists due to emission of greenhouse gases.The majority of oil and gas supermajors including BP plc BP and Royal Dutch Shell (RDS.A) promised to become net-zero energy firms by 2050 and heavily invest in renewable and low-carbon energy alternatives.As the focus on energy transition deepens, San Ramon, CA-based Chevron sealed eight deals in the last couple of weeks to invest in hydrogen, green jet fuel and renewable natural gas for portraying a better image to investors in the run-up to an investor presentation on environmental, social and governance (ESG).Regarding some of those deals, this currently Zacks Rank #2 (Buy) energy player along with renewable energy firm Gevo, Inc. signed a letter of intent to jointly invest in the construction and operation of one or more new facilities to convert inedible corn into sustainable aviation fuel (SAF), thereby lowering the lifecycle carbon intensity of aviation fuels.Last week, Chevron also announced that it will develop sustainable aviation fuel as a pilot project and sell it to Delta Air Lines DAL at the Los Angeles International Airport. The development of SAF is another strategic path that is being chased by the company to achieve carbon neutrality as biojet fuels help trim toxic emissions from air transportation. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis Report Chevron Corporation (CVX): Free Stock Analysis Report Royal Dutch Shell PLC (RDS.A): Free Stock Analysis Report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research