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.
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.
Compressed Air Energy Storage (CAES) company Hydrostor announced Tuesday that it has sought the services of Australian global infrastructure firm AECOM to support its entry into the market.
Compressed Air Energy Storage (CAES) company Hydrostor has introduced Hydrostor Terra — a long-duration bulk energy storage system that is expected to compete with new natural gas plants.
