Announced
Completed
Financials
Sources
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.
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