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Renewable power is used to produce hydrogen, which is stored in underground caverns until it is needed for green energy.

HyVelocity will rapidly scale clean hydrogen supply and demand and deliver community benefits along the Gulf Coast in Texas and Southwest Louisiana...

Read US oil major acquires majority stake in hydrogen project and other wind energy news & analysis on Windpower Monthly

Chevron has plans to acquire Magnum Development which holds a majority stake in ACES Delta – the firm aims to develop an Advanced Clean Energy Storage project in Delta, Utah. With this takeover, Chevron now holds a majority stake in the project.

Chevron has acquired a majority interest in ACES Delta, the entity responsible for developing Advanced Clean Energy Storage (ACES) project

Chevron U.S.A. Inc., through its Chevron New Energies division, announced it has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC (Magnum Development) and thus . . .

Mitsubishi Power Americas, Inc. welcomes a new strategic partner to the Advanced Clean Energy Storage project in Delta, Utah. Chevron U.S.A. Inc., through its Chevron New Energies division, recently c. . .

Mitsubishi Power Americas Inc. welcomes a new strategic partner to the Advanced Clean Energy Storage project in Delta Utah. Chevron U.S.A. Inc. through its Chevron New Energies division recently closed a transaction to acquire a majority interest in ACES Delta LLC ACES Delta which is developing the project.

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Chevron will have controlling interest in ACES Delta, which will initially convert more than 220 MW of renewable energy into 100 metric tonnes per day of green hydrogen that will be stored in two gigantic 4.5-MMbbl salt caverns.