Chevron has plans to acquire Magnum Development which holds a majority stake in ACES Delta – the firm aims to develop an Advanced Clean Energy Storage project in Delta, Utah. With this takeover, Chevron now holds a majority stake in the project.
Chevron has acquired Magnum Development, LLC, thereby securing a pivotal stake in the Advanced Clean Energy Storage endeavor based in Utah. This acquisition positions Chevron at the forefront of ACES Delta, LLC, an initiative concentrated on hydrogen energy storage, with a projection to commence operations by mid-2025. Tracing back to September 2021, Chevron inked a framework
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