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.
An agreement has been reached between the developer of a large-scale pumped hydro energy storage project in Ontario, Canada, and the Department of National Defence that could see the project built on federal land.
Stem Inc said that its portfolio of aggregated battery energy storage systems was called into action to help balance electricity networks across four different states and provinces in the US and Canada during heat waves in June.
California is facing a huge shortfall of electricity capacity on its grid and advanced compressed air energy storage (A-CAES) can fill the gap, Hydrostor has proposed.
Stem Inc’s shares begin trading on the New York Stock Exchange today, after the “artificial intelligence-driven clean energy storage services” company completed its business combination with special purpose acquisition company (SPAC) Star Peak Energy Transition Corp.
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.
Quebec’s largest grid-scale battery energy storage system to date will maintain electricity supply and power quality for customers of Canadian utility company Hydro-Québec while it carries out major transmission line upgrade work in the province.
Equity investors have already committed more than US$300 million to lithium battery recycler Li-Cycle’s plan to go publicly-listed through a special purpose acquisition company (SPAC) merger.
Decision-makers across Canada now recognise the value that energy storage can bring to the grid, with Ontario’s grid operator establishing its first-ever set of market rules for energy storage’s participation.
