US oil group Chevron Corp (NYSE:CVX) will join the Advanced Clean Energy Storage project, which will produce, store and transport green hydrogen at utility scale, and take part in a hydrogen-as-fuel demonstration under a separate partnership.
Chevron USA Inc said today that through Chevron New Energies it has agreed on a framework to acquire a stake in the joint venture between Mitsubishi Power Americas Inc and Magnum Development LLC that owns the project. Definitive documentation is being negotiated.
The project is intended to provide green hydrogen for power generation, transportation and industrial applications in the western US. The joint venture, called ACES Delta LLC, is located in Delta, Utah, next to the Intermountain Power Plant, which will use green hydrogen to generate electricity.
“For several years, we’ve been working with early adopters of green hydrogen in the power sector that have easy access to salt domes or existing hydrogen infrastructure, such as the Intermountain Power Agency and Magnum Development,” explained Mitsubishi Power Americas chief executive Paul Browning.
“Now it’s time to connect massive geologic hydrogen storage in Delta, Utah, to power, transportation and industrial users throughout the western United States. Chevron’s footprint and expertise in the transportation and industrial sectors make them an ideal partner for this next phase of expansion,” Browning added.
Separately on Wednesday, Chevron announced a partnership with heavy equipment manufacturer Caterpillar Inc (NYSE:CAT) to collaborate on hydrogen demonstration projects in transportation and stationary power applications. The companies will aim to confirm the feasibility of hydrogen for use in line-haul rail and marine vessels, as well as demonstrate hydrogen’s use in prime power. The two also agreed to demonstrate a hydrogen-fueled locomotive.
“Through Chevron New Energies, Chevron is pursuing opportunities to create demand for hydrogen – and the technologies needed for its use – for the heavy-duty transportation and industrial sectors, in which carbon emissions are harder to abate,” said Chevron New Energies president Jeff Gustavson.
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Credit: Mitsubishi Power
