Chevron U.S.A. Inc., through its Chevron New Energies division, has acquired a majority stake in the ACES Delta, LLC joint venture, representing a part of Chevron New Energies’ broader efforts to pursue lower carbon energy solutions. This joint venture with Mitsubishi Power Americas plans to use electrolysis to convert renewable energy into hydrogen and will utilize solution-mined salt caverns for seasonal, dispatchable storage of the energy in Delta, Utah.
The S&C team advising Chevron includes Inosi Nyatta, Brian Hamilton, Sam Saunders and Renata Mascarenhas. Mehdi Ansari and Grace Son advised on IP matters. Matt Friestedt and Joyce Lee advised on executive compensation matters. Eric Wang, John Jo and Vincent Lan advised on tax matters and Matt Brennan advised on environmental matters.