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Alternative Assets  + Real Assets  |  March 5, 2024
Chevron Launches Solar-Powered Hydrogen Plant in California
Joe Palmisano
By: Joe Palmisano

Chevron Launches Solar-Powered Hydrogen Plant

Chevron New Energies, a division of Chevron U.S.A. Inc., announced it is developing a 5-megawatt hydrogen production project in California’s Central Valley. 

The project aims to create lower carbon energy by utilizing solar power, land and non-potable produced water from Chevron’s existing assets at the Lost Hills oil field in Kern County. 

The company says this low carbon intensity (LCI) electrolytic hydrogen will be produced through electrolysis. The facility is designed to produce two tons of LCI hydrogen daily. 

“Chevron already offers lower carbon fuels like sustainable aviation fuel, renewable diesel and others, and this project is expected to expand the portfolio of solutions Chevron could supply to the region,” said Austin Knight, vice president for hydrogen at Chevron New Energies. 

Lost Hills represents the first Chevron-only commercial electrolytic hydrogen project. Development is expected to span multiple years. 

Pictured: 220-acre solar field at Lost Hills 

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Chevron New Energies

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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