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Chevron to Acquire Majority Stake in Advanced Clean Energy Storage Project in Delta, Utah

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 Takes a Big Step Toward Capturing This $1.4 Trillion Market Opportunity

The oil giant is buying a majority stake in the world's largest hydrogen production and storage facility.

Chevron's Strategic Move: Secures Principal Stake in Utah's ACES Delta Hydrogen Venture

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

Chevron Acquires Majority Stake in Advanced Clean Energy Storage Project

Chevron has acquired a majority interest in ACES Delta, the entity responsible for developing Advanced Clean Energy Storage (ACES) project

Chevron Commits to Clean Energy with Investment in Utah Hydrogen Project