Our Vision

Clean, Reliable Energy Empowering the West

As renewable energy continues displacing fossil fuels for electric generation, transportation, and industrial applications, the requirement for more system flexibility to accommodate these intermittent power resources has grown. Recognizing this transformation, Magnum Development, LLC more than a decade ago began development of a vast underground salt formation near Delta, Utah, capable of storing excess renewable energy to be drawn on to meet future energy requirements. Magnum continues to develop this unique, centrally located resource to facilitate the West’s transition to this new energy future.

Magnum History

Magnum Development, LLC has defined the salt formation’s extent and characteristics, and has secured key assets (land, minerals, water, etc.) that can be used in the development of multiple projects. Resources committed to date have significantly de-risked both site development and the creation of salt storage caverns—thus expediting and de-risking future business development. Magnum and its joint development partners continue to own, control, and develop this site—the Western Energy Hub—the only known “Gulf Coast” style domal-quality salt formation in the Western United States.

  • Site viability was proven with the development, commercialization, and sale by Magnum in 2014 to NGL Energy Partners LP and then later sold to Sawtooth caverns, which operates natural gas liquid storage at the site.
  • In 2019, Magnum entered into a joint venture with Mitsubishi Power Americas—ACES Delta (see ACES-Delta.com)—to develop the world’s largest green hydrogen production and storage facility. This project will store utility-scale hydrogen produced from renewable energy in the on-site salt dome caverns that can be drawn upon to supply clean energy when wind and solar resources cannot meet market demand.
  • On September 12, 2023, Chevron U.S.A. Inc., through its Chevron New Energies division, announced it has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC (Magnum Development) and thus a majority interest in ACES Delta, LLC (ACES Delta), which is a joint venture between Mitsubishi Power Americas, Inc. (Mitsubishi Power) and Magnum Development. ACES Delta is developing the Advanced Clean Energy Storage project in Delta, Utah.

Magnum Development continues to focus on developing portfolio companies to manage and operate infrastructure at the Western Energy Hub to support regional energy and economic development.

NGL Cavern Interconnection

Management Team Bios

Craig Broussard

Craig Broussard

Craig Broussard is a founder, and currently serves as the President and Chief Executive Officer, of Magnum Development, LLC. He also serves as Chairman, President, and Chief Executive Officer of the Mitsubishi Power Systems/Magnum Development joint venture ACES Delta. His extensive energy experience includes serving in a variety of executive positions in public and private industry both domestically and internationally. He also serves on the Utah Foundation board.

Rob Webster

Robert Webster

Robert Webster is a founder and Chief Strategy Officer of Magnum Development, LLC and ACES Delta. A geologist, business executive, and entrepreneur, he co-founded and held the Office of the President for PacifiCorp Energy, which operates generation facilities throughout the Western United States. He holds a BS in Geology and Environmental Studies and an MS in Geology from Kansas State University, as well as an MBA from Westminster College.

John Alvarado

John Alvarado

John Alvarado is Chief Financial Officer and Chief Operating Officer of Magnum Development, LLC and ACES Delta. He holds experience across all traditional energy sectors both domestic and internationally—having started his 40-year finance career with Shell Oil and Chemical Company in the downstream sector in Houston followed by experience as an International Internal Auditor with Occidental Petroleum Inc. in the upstream sector. John’s 20-year stint in New York City included providing debt and equity finance to the energy sector and experience as an energy investment banker. He holds a BBA in Finance from New Mexico State University and an MBA from Fordham University.


Mike Etringer

Mike Etringer is Chief Commercial Officer of Magnum Development, LLC. He is an accomplished energy professional with 25+ years’ commercial expertise leading the origination, structuring, trading, and negotiation of high-value power and natural gas contracts across the Western United States. Mike has an in-depth knowledge of power and gas markets, power purchase agreements, conventional and renewable generation, energy transmission systems, tariffs, regulatory regimes, and commodity hedge structures. During his career, he has led commercial activities for Sunpin Solar, NextEra Energy, Enron Capital & Trade, and Phillips Petroleum. He holds a BS degree in Chemical Engineering from the University of Iowa and an MBA in Finance from the University of Houston Bauer School of Business.