TORONTO, CANADA – February 5, 2024 –Hydrostor, a global long duration energy storage (LDES) developer and operator, is pleased to announce the appointment of Beth Summers as the company’s new Chief Financial Officer, effective February 5.
“We’re excited to have Beth join our team at such an exciting time for our company, as our Silver City and Willow Rock projects move towards financial close,” said Curtis VanWalleghem, Hydrostor’s CEO. “Beth brings critical industry experience and passion for growing organizations that will help us continue to grow our offerings and project pipeline.”
Beth has over 30 years of experience in finance and energy, and prior to joining Hydrostor she was Executive Vice President and Chief Financial Officer of Superior Plus, a distributor of propane, distillates and compressed natural gas. Prior to that, Beth was Senior Vice President and Chief Financial Officer of Ontario Power Generation, Ontario’s largest electrical power generator, after her time as Chief Financial Officer of Just Energy Group Inc., a leading North American distributor of electricity and natural gas.
Ms. Summers was also Executive Vice President and Chief Financial Officer at Hydro One Inc. She began her career in the audit practice at Ernst & Young, where she worked for 10 years.
“I’m excited to be joining a Canadian-based global company that is helping to revolutionize the way that we think about energy storage, security, and resiliency,” said Beth. “I look forward to working with the rest of the Hydrostor team to make our projects in Australia and California a reality, while expanding our project pipeline to other jurisdictions.”
In addition to Beth Summers’ appointment as CFO, Hydrostor has also recently added management depth to its Business Development, Regulatory and External Affairs, and Communications teams respectively with the hires of Julie Thompson, Vice President of Commercial and Industrial; Jennifer Gardner, Director of Regulatory and External Affairs; and Emily Smith, Director of Media Relations.
About Hydrostor Inc.
Hydrostor is a leading developer and operator of long duration energy storage systems. Hydrostor leverages a proven technology solution for delivering long duration energy storage (eight hours or more) to power grids around the world. Hydrostor’s technology uses compressed air and water to store energy. This patented technology allows grid operators to draw on clean energy, even when there is no sun to fuel solar panels and no wind to generate energy from turbines.
Hydrostor has a successful utility scale facility commercially contracted to the Independent Electricity System Operator (IESO) located in Goderich, Ontario, and two advanced projects under development in Kern County, California and New South Wales, Australia. Hydrostor has an extensive early-stage pipeline of projects in North America, Australia and Europe.
Founded in 2010 and with headquarters in Toronto, Canada and an office in Melbourne, Australia, Hydrostor is backed by Goldman Sachs Asset Management, the Canada Pension Plan Investment Board (CPPIB) and other forward-thinking institutional investors, providing financial security to commit to top-tier energy projects.
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