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

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.

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