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Goldman Sachs Invests in Canadian CAES Specialist (Ind. Report)
Hydrostor
Date: 2022-01-12
New York-headquartered banking giant Goldman Sachs is $250 million in Toronto-based underground compressed air energy storage (CAES) startup Hydrostor. Hydrostor is expected to use the new funds for development, staff expansion and marketing in Europe and the U.S.

As previously reported, Hydrostor's long-duration energy storage system is environmentally low-impact, cost-effective and can store energy for up to 6+ hours. In 2020, Hydrostor's 200 MW A-CAES system was selected by Australia's New South Wales Transmission Network Service Provider, Transgrid, as the preferred option in its Regulatory Investment Test for Transmission (RIT-T) for reliable and secure energy supply. (Source: Goldman Sachs, Hydrostor, PR, 19 Jan., 2022) Contact: Hydrostor, Curtis VanWalleghem, CEO, (416) 548-7880, www.hydrostor.ca

More Low-Carbon Energy News Hydrostor,  Energy Storage,  Goldman Sachs,  


Hydrostor Proposes Calif. Energy Storage Project (Ind. Report)
Hydrostor
Date: 2021-11-24
In the Golden State, Toronto-headquartered energy storage specialist Hydrostor reports submission of an application with the California Energy Commission (CEC) to develop a 400-megawatt energy storage facility between Morro Bay and San Luis Obispo. If approved and constructed, the proposed Pecho Energy Storage Center would provide large-scale, long-duration energy storage for the region would interconnect at the existing PG&E Morro Bay Switching Station.

Hydrostor anticipates the planned 400-MW facility could come in at roughly $800 million and open as early as 2026 as one of California's largest energy storage facilities.

In June , this year, the California PUC called for 1,000 MW of long-duration energy storage that would become operational between 2026 and 2028. (Source: Hydrostor, Website, PR, CalCoast Tines, 23 Nov., 2021) Contact: Hydrostor, Curtis VanWalleghem, CEO, (416) 548-7880, www.hydrostor.ca

More Low-Carbon Energy News Hydrostor ,  Energy Storage,  A-CAES,  


Hydrostor Touts 200-MW Aussie A-CAES Project (Int'l. Report)
Hydrostor
Date: 2021-06-09
Tornont, Ontario-headquartered long duration energy storage specialist Hydrostor is reporting the latest results from a third-party economic impact study for its 200 MW Advanced Compressed Air Energy Storage (A-CAES) project being developed in Broken Hill, New South Wales (NSW).

The report notes the total investment is expected to be up to $560 million and the majority of construction expenditures will be local and, during the 50+ year project life, approximately 53 pct of all operations expenditures -- roughly $460 million -- will be purchased in the Broken Hill region.

Hydrostor's long-duration energy storage system is environmentally low-impact, cost-effective and can store energy for up to 6+ hours. In 2020, Hydrostor's 200 MW and 8 hours (or 1600 MWh) A-CAES system was selected by New South Wales (NSW) Transmission Network Service Provider, Transgrid, as the preferred option in its Regulatory Investment Test for Transmission (RIT-T) for reliable and secure supply for Broken Hill. Hydrostor and Energy Estate are developing this project which has received grant funding from the NSW Government's Emerging Energy Program , according to the release. (Source: Hydrostor, PR Website, 7 June, 2021) Contact: Hydrostor, Curtis VanWalleghem, CEO, www.hydrostor.ca/brokenhill-a-caes-project, www.hydrostor.ca

More Low-Carbon Energy News Hydrostor ,  Energy Storage,  A-CAES,  


Hydrostor Advancing Calif. Energy Storage Projects (Ind. Report)
Hydrostor
Date: 2021-04-30
Hydrostor reports work is well underway on its two major Compressed Air Energy Storage (CAES) projects in California -- one in southern Kern County and one in Central California -- representing a combined investment of over $1.5 billion and supporting the Golden State's transition to a carbon-free and renewable energy grid.

Hydrostor's patented and commercially proven A-CAES technology provides 8-12+ hours of energy storage, versus the 1-4 hours that current battery technologies can feasibly provide. This long duration energy storage is essential for establishing the pathway to California's decarbonized electricity grid. A CAES also has a longer lifespan, of more than 50 years, with zero degradation and a lower environmental impact than conventional alternatives available today, according to the company. Hydrostor is advancing a pipeline of large-scale A-CAES facilities that represent over 2,000 MW and 20,000 MWh of near-term project deployment potential in the USA, Canada, Chile and Australia. (Source: hydrostor, PR, 29 Apr., 2021) Contact: Hydrostor, Curtis VanWalleghem, CEO , Curt Hildebrand, curt.hildebrand@hydrostor.ca. www.hydrostor.ca/technology

More Low-Carbon Energy News CAES news,  Energy Storage news,  Hydrostor news,  


Hydrostor Scores Compressed Air Energy Storage Funding (Funding)
Hydrostor
Date: 2021-04-19
Toronto-headquartered Hydrostor, a long duration energy storage solution provider, is reporting receipt of approximately $4 million funding from Natural Resources Canada's Energy Innovation Program and Sustainable Development Technology Canada to develop a 300-500 MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.

The funding will be used to complete engineering and planning for the project which will be modeled on Hydrostor's successful commercially operating Goderich, Ontario storage facility, providing up to 12 hours of long duration energy storage. (Source: Hydrostor, Website PR, 15 Apr, 2021) Contact: Hydrostor, (416) 548-7880, www.hydrostor.ca

More Low-Carbon Energy News Hydrostor news,  Energy Storage news,  Compressed Air Energy Storage news,  


Hydrostor, NRStor Complete Goderich A-CAES Facility (Ind. Report)
Hydrostor,NRStor
Date: 2019-12-11
Toronto-based Hydrostor, a developer of Advanced Compressed Air Energy Storage (A-CAES) projects, in partnership with energy storage project developer NRStor, also of Toronto, has announced completion of the Goderich A-CAES compressed-air energy storage facility in Goderich, Ontario.

The first-of-its-kind utility-scale Goderich A-CAES Facility is commercially contracted to Ontario's Independent Electricity System Operator (IESO) for peaking capacity and ancillary services to support grid reliability.

The project, was supported by Export Development Canada (EDC), Sustainable Development Technology Canada (SDTC) and the Government of Ontario through the Ontario Centres of Excellence (OCE). (Source: Hydrostor, Elec. Bus., 9 Dec., 2019) Contact: Hydrostor, Curtis Vanwallegham, CEO, (416) 548-7880, info@hydrostor.ca, www.hydrostor.ca: NRStor, Peter Gregg, President, (647) 281-7200, www.nrstor.com

More Low-Carbon Energy News Hydrostor,  Compressed Air Energy STorage,  Energy Storage,  NRStor,  


Hydrostor Touts Aussie Compressed Air Energy Storage (Ind. Report)
Hydrostor,ARENA
Date: 2019-02-13
Toronto-headquartered advanced compressed air energy storage (A-CAES) specialist Hydrostor Inc. is reporting its subsidiary, Hydrostor Australia Pty Ltd, has been awarded a combined total of $9 million in grant funding from the Australian Renewable Energy Agency (ARENA) and the Government of South Australia in support of the 5 MW project. Australia's first A-CAES project is slated for construction at the site of a mothballed mine near Adelaide.

(Source: Hydrostor, 12 Feb., 2019) Contact: Hydrostor, Curtis VanWalleghem, CEO. www.hydrostor.ca; ARENA, Ivor Frischknecht, CEO, +61 2 6243 7773, arena@arena.gov.au, http://arena.gov.au

More Low-Carbon Energy News ARENA,  Hydrostor,  Compressed Air Energy STorage,  

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