Magnum Development

Company description

Magnum Development, LLC owns and controls the only known “Gulf Coast” style domal-quality salt formation in the western United States. Magnum was originally funded by Haddington Energy Partners III, LP in 2008 to support a variety of projects centered around a large salt body near Delta, Utah. Site viability and profitability has been proven with one business, Magnum NGLs, LLC, which was successfully developed, brought to commercialization, and sold in 2015. In March 2018, Magnum entered into a joint venture with Sawtooth by contributing its refined products business for an 8% ownership interest in the Sawtooth JV. Magnum is focused on developing multiple portfolio companies, which are in various stages of development: natural gas, Compressed Air Energy Storage (CAES), refined products, and industrial gases (hydrogen and helium).

Company details

City:
Holladay
Address:
3165 East Millrock Drive, Suite 330, Holladay, Utah 8412

Participation in projects

Projects Transactions
List of the updates in which the company was involved

Company updates

  • June 10, 2021

    U.S. Department of Energy invites Advanced Clean Energy Storage Project for US$595mn financing

    Mitsubishi Power Americas and Magnum Development announced that their jointly developed Advanced Clean Energy Storage Project has been invited by the U.S. Department of Energy’s (DOE) Loan Progr...

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  • June 21, 2019

    World’s Largest Renewable Energy Storage Project in USA

    Mitsubishi Hitachi Power Systems (MHPS) and Magnum Development announced an initiative to launch the Advanced Clean Energy Storage (ACES) project in central Utah. In the world’s largest project...

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