Approximately $4M has been committed to the project with support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, employing the people, suppliers, and technologies from the oil and gas sector.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction. The project will be modeled on the success of Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of long duration energy storage.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector.”
Hydrostor is a long duration energy storage solutions provider that provides reliable and affordable utility integration of long duration energy storage, enabling grid operators to scale renewable energy and secure grid capacity. Hydrostor supports the green economic transition, employing the people, suppliers, and technologies from the traditional energy sector to design, build, and operate emissions-free energy storage facilities. Hydrostor has developed, deployed, tested, and demonstrated that its patented Advanced Compressed Air Energy Storage (A-CAES) technology can provide long duration energy storage and enable the renewable energy transition. Hydrostor has projects worldwide in various development stages for providing capacity of over 200 MW and for 6 or more hours.
About Sustainable Development Technology Canada (SDTC)
Sustainable Development Technology Canada (SDTC) helps Canadian companies develop and deploy competitive, clean technology solutions, to help solve some of the world’s most pressing environmental challenges: climate change, clean air, clean water and clean soil. By taking a cross-Canada approach, from seed to scale, and in partnership with the best peers and experts, SDTC is the global benchmark for sustainable development innovation programming.