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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 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,  


Nottingham U. Invests in Cheesecake Energy Storage Tech (Int'l)
University of Nottingham
Date: 2020-05-08
In the UK, the University of Nottingham reports it has invested in compressed air energy storage startup Cheesecake Energy Ltd (CEL). The funding comes from the University's Nottingham Technology Ventures (NTV), which manages the University's spin-out portfolio.

Cheesecake Energy is developing energy storage at 30 - 40 pct lower cost than lithium ion batteries, the current market leader. Cheesecake's system uses compressed air and thermal energy storage to achieve high efficiency, long lifetime and dramatically lower environmental impact.

In Cheesecake Energy's system, electricity is safely and inexpensively stored as zero emission thermo-mechanical energy. The company is currently designing a 150 kW / 750 kWh prototype system for completion in Q4 2020. (Source: Univ. of Nottingham, Business East Midlands, 7 May, 2020) Contact: Cheesecake Energy Ltd, Mike Simpson, CEO, www.cheesecakeenergy.com

More Low-Carbon Energy News Energy Storage,  


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,  


MP Power Seeks Indian Grid-Scale Energy Storage Bids (Int'l Report)
MP Power Management
Date: 2019-06-12
Reporting from Mumbai, MP Power Management Company, the Madhya Pradesh state government's holding firm for three power distribution companies , is calling for expressions of interest from domestic and global players for the establishment of 500 MW with 8 hours of continuous discharge of grid-scale energy storage service, microgrid and a storage manufacturing facility in the state. The tender call notes the energy storage options could be in the form of chemical batteries (lithium ion, advanced lead acid, sodium sulphur, flow batteries), pumped storage hydro, compressed air energy storage, flywheels or other forms of storage.

Out of Madhya Pradesh's total installed power capacity of 19,796 MW as of January 2019, 3,827 MW are from renewable energy sources. (Source: MP Power Management Co. Ltd., livemint, 11 June, 2019)Contact: MP Power Management Co. Ltd., +91-761-2661111, 2661106, 2661107, www.mppmcl.com

More Low-Carbon Energy News MP Power Management,  Energy Storage,  


1,000-MW Utah Energy Storage Project Announced (Ind. Report)
Mitsubishi Hitachi Power Systems
Date: 2019-05-31
Mitsubishi Hitachi Power Systems and Holloday, Utah-based Magnum Development are reporting plans to develop 1,000 megawatts of renewable energy storage in a Magnum-owned salt cavern in central Utah.

The two firm's Advanced Clean Energy Storage (ACES) project will deploy four types of energy storage technologies at utility scale, which include renewable hydrogen, compressed air energy storage, large-scale flow batteries, and solid oxide fuel cells.

The project is sited adjacent to the coal-fired Intermountain Power Project and will connect with the Western US power grid using existing infrastructure, according to the company. (Source: Magnum Development , Mitsubishi Hitachi Power Systems, Energy Manager, 29 May., 2019) Contact: Mitsubishi Hitachi Power Systems, www.amer.mhps.com; Magnum Development, Craig Broussard, CEO , (801) 993-7001, www.magnumdev.com

More Low-Carbon Energy News Mitsubishi Hitachi Power Systems,  Energy Storage,  


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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