Chevron Corp has purchased a majority stake in the world’s largest hydrogen storage facility in Utah. The site is owned by Mitsubishi Power and Magnum Development. The oil conglomerate aims to reduce carbon emissions with this move.
The salt caverns in Utah can store 100% green hydrogen for months, according to Mitsubishi. The massive underground infrastructures are key for green energy storage.
This deal allows Chevron to join the global clean-energy business. It will provide hydrogen storage services to utilities and auto manufacturers. Furthermore, Chevron plans to initiate large-scale hydrogen production for industrial usage.
Read source article here:
https://www.reuters.com/sustainability/chevron-buys-majority-stake-utah-hydrogen-project-2023-09-12/
