The hub will be located in the state of Utah
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
14 January 2026
Continent’s governments must seize the green hydrogen opportunity by refining policies and ramping up the development of supply chains and infrastructure
6 January 2026
Shifts in government policy and rising power demand will shape the clean hydrogen sector as it attempts to gain momentum following a sluggish performance in 2025
23 December 2025
Government backing and inflow of private capital point to breakthrough year for rising star of the country’s clean energy sector
19 December 2025
The hydrogen industry faces an important choice: coordinated co-evolution or patched-together piecemeal development. The way forward is integrated co-evolution, and freight corridors are a good example
