Hydrostor Inc. (“Hydrostor”), a leading long-duration energy storage solution provider, today announced a preferred equity financing commitment of US$250 million from the Private Equity and Sustainable Investing businesses within Goldman Sachs Asset Management (“Goldman Sachs”). The investment proceeds will be used to support development and construction of Hydrostor’s 1.1GW, 8.7GWh of Advanced Compressed Air Energy […]
Hydrostor Seeks Approval for 3.2GWh Compressed Air Storage Facility in California – EQ Mag Pro
Approval is being sought for a 400MW Advanced Compressed Air Energy Storage (A-CAES) project with eight hours of storage to be built in California by technology provider Hydrostor. The Canada-based company is the first in the world to have built an operational commercial facility A-CAES, a much smaller 1.75 MW project in Goderich, Ontario, with […]
Compressed Air Energy Storage Company Hydrostor Nets CA$10m of Growth Capital
Hydrostor, a Canadian company with projects under development in North America and Australia using its advanced compressed air energy storage (A-CAES) technology, has secured CA$10 million (US$7.99 million) growth capital. The investment has come from BDC Capital, the investment arm of BDC, a bank which aims to support Canadian entrepreneurs. The Canadian government is BDC’s […]
Air Compression to be Used in the World’s Largest Non-Hydro Energy Storage System
The largest advanced compressed-air long-duration energy storage (A-CAES) system in the world is set to be constructed in California in the United States, paving the way for a reliable renewable electricity network. Canadian company Hydrostor has announced that it is developing two 500MW/5GWh A-CAES projects in conjunction with US renewables developer Pattern Energy and French […]
Canada’s biggest-ever clean-energy storage plant plans charged up with launch funding
Up-to-500MW advanced compressed air energy storage facility to be built in Ontario by start-up Hydrostor with $3.2m government seed finance. Canada’s largest clean-energy storage facility, a giant up-to-500MW system based on compressed-air technology, has taken a major stride forward following the award of C$4m ($3.2m) in backing from the country’s government. Funding for Toronto-headquartered Hydrostor’s […]
Advanced compressed air energy storage project gets funding help from Canadian government
The Canadian federal government is financially supporting the development of a large-scale advanced compressed air energy storage (A-CAES) project capable of providing up to 12 hours of energy storage. A-CAES solutions provider Hydrostor told Energy-Storage.news yesterday that a planned 300-500MW system is being supported with the funds through the government’s natural resources department and Sustainable […]