In a major move, Chevron U.S.A. has acquired a majority stake in the Advanced Clean Energy Storage hydrogen project in Delta, Utah, US, after buying out 100% of Magnum Development.
By acquiring the company, Chevron through its Chevron New Energies division has taken a majority interest in ACES Delta, a joint venture between Mitsubishi Power Americas and Magnum Development, which is undertaking the project.
Planned to use electrolysers powered by renewable energy to produce hydrogen and utilise salt caverns for seasonal, dispatchable storage of the energy, the project is expected to produce and store up to 100 tonnes of hydrogen per day.
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