Aces project finalises investment
Investments will ensure the future growth and scalability of the Aces hub, developers say
The Advanced Clean Energy Storage (Aces) hub in Utah—the world’s largest industrial green hydrogen production and storage facility—should finish its initial financing this quarter, according to co-developer Magnum Development. Haddington Ventures, the financial adviser for the hub and equity sponsor of Magnum Development, is securing $650mn for the project through its equity syndication programme. And the US Department of Energy last week issued a conditional commitment for up to $504.4mn in debt financing for the hub. These critical investments will ensure the future growth and scalability of the Aces hub, according to Dave Webster, COO of Magnum Development. “It is the first real demonstra

Also in this section
4 July 2025
Race is on to meet end-2027 deadline for 45V as Congress passes One Big Beautiful Bill Act
1 July 2025
Gas industry and EU politicians pile pressure on European Commission to provide more regulatory certainty on emissions calculations
27 June 2025
TotalEnergies’ delayed FID for its Venus project will likely set back first oil, but Windhoek has other irons in the fire
26 June 2025
Last year was one of records for renewables but also for oil, gas and coal, as the energy transition progresses in an increasingly uneven way, according to the Energy Institute’s latest annual report