Advanced compressed air energy storage (A-CAES) technology firm Hydrostor has signed a binding agreement with mining firm Perilya to progress the construction of a project in New South Wales, Australia.

Hydrostor “remains fully committed” to its 4GWh advanced compressed air energy storage (A-CAES) project in California, its president told Energy-Storage.news as it considers alternative locations and delivery dates.

ARENA funding will support Hydrostor’s advanced compressed air energy storage (A-CAES) project in New South Wales.

Compressed air long-duration energy storage (A-CAES) solution provider Hydrostor has chosen Kiewit to provide engineering and design studies for its 500MW Willow Rock Energy Storage Center in California, US.

Hydrostor waits to hear if one of its proposed large-scale projects in California will get approved to supply electricity.

Compressed air long-duration energy storage solution provider Hydrostor has received an investment commitment of US$25 million from Canada Pension Plan Investment Board.

Hydrostor believes it can get three advanced-compressed air energy storage (A-CAES) projects totalling 1.1GW/8.7GWh built in California and Australia by 2026, but regulators elsewhere need to remove barriers for A-CAES and other long-duration storage technologies to thrive, the company’s CEO has said.

Hydrostor CEO Curtis VanWalleghem talks advanced compressed air energy storage and how Goldman Sachs Asset Management came to invest US$250m in his company.

California’s inclusion of US$380 million financial support for long-duration energy storage projects could “activate” up to 20 projects in the US state, which has a “tremendous need” for energy storage. 

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.