Hydrostor seeks $1B in contracts to replace peaking plants with compressed air storage

• We aim to secure contracts worth up to $1 billion to replace U.S. peaking plants with its compressed air technology, partnering with construction company AECOM.
• Our target is decommissioned coal-fired plants of at least 100 MW over the next two to three years. Our underwater storage system, tested since 2015, compresses air in underwater balloons during low-demand periods, releasing it to generate power during peak demand.
• With capital costs comparable to new gas-fired plants but lower operating costs, we plan to market its technology aggressively.
• While initially focused on smaller projects, they claim capability for facilities up to 200 MW. Similar systems are being tested elsewhere with expected electricity costs ranging from $50/MWh to $230/MWh.

Read more