# Chevron acquires 100% of Magnum Development for Utah hydrogen project

Chevron USA Inc., through Chevron New Energies, completed the acquisition of a 100% stake in Magnum Development LLC, gaining a majority interest in ACES Delta LLC, which is developing the Advanced Clean Energy Storage hydrogen project in Delta, Utah. The project will convert and store up to 100 metric tons per day of hydrogen.

- Type: Acquisition
- Announced: 2023-09-13
- Where: Delta, Utah, United States
- Status: completed
- Capacity: 100 metric tons per day of hydrogen
- Products: hydrogen, renewable energy storage
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Mitsubishi Power Americas](https://endata.com/companies/9971.md) (partner)
- [Magnum Development](https://endata.com/companies/9972.md) (target)
- [Chevron USA Inc.](https://endata.com/companies/72596.md) (acquirer)
- [ACES Delta LLC](https://endata.com/companies/72597.md) (partner)

## Sources

- [rigzone.com](https://www.rigzone.com/news/chevron_acquires_majority_stake_in_utah_hydrogen_project-13-sep-2023-173980-article/), 2023-09-13: "Chevron completed the 100 percent acquisition of Magnum Development."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.