Merger Links

Chevron completed the acquisition of a majority stake in ACES Delta from Haddington Ventures.

Announced

Completed

Transaction Tags

  • Friendly
  • United States
  • energy storage
  • Renewable Energy Equipment
  • Domestic
  • Private
  • Venture Capital
  • Completed
  • Single Bidder
  • Acquisition
  • Majority
  • Private Equity

Synopsis

Chevron, an American multinational energy corporation, completed the acquisition of a majority stake in ACES Delta, an advanced clean energy storage project developer, from Haddington Ventures, a private equity and venture capital firm. Financial terms were not disclosed. “As we continue to pursue lower carbon energy solutions, we are excited to move forward with the Advanced Clean Energy Storage hydrogen project, through our acquisition of Magnum Development and partnership with Mitsubishi Power, to build on Chevron’s 75-year history in Utah. We seek to leverage the unique strengths of each partner to develop a large-scale, hydrogen platform that provides affordable, reliable, ever-cleaner energy and helps our customers achieve their lower carbon goals,” Austin Knight, Chevron Vice President.

Sources

Press Release

Chevron

Transaction Value

+ Add

Consideration Type

Cash

Capital Owned

+ Add

Capital bid for

+ Add

EV/Sales

+ Add

EV/EBITDA

+ Add

Share Price Premium

+ Add
Service Providers (4)Dealmakers
Citigroup

financial advisors

Citigroup

Sullivan & Cromwell

legal advisors

Sullivan & Cromwell

Jefferies & Company

financial advisors

Jefferies & Company

Willkie Farr & Gallagher

legal advisors

Willkie Farr & Gallagher

MERGERLINKS LIMITED • 15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM • CONTACT@MERGERLINKS.COM

© COPYRIGHT 2023 MERGERLINKS.COM. ALL RIGHTS RESERVED.