logo
logo

Hydrostor Nabs $250M Preferred Financing From Goldman Sachs

Hydrostor Nabs $250M Preferred Financing From Goldman Sachs

01/10/22, 10:07 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/CA.svgtoronto
Money raised
$250 million
Hydrostor, a Toronto-based provider of long-duration energy storage solutions, has secured a $250 million preferred equity financing from Goldman Sachs Asset Management.

Company Info

Company
Hydrostor
Location
toronto, ontario, canada
Additional Info
Hydrostor currently has a total pipeline of projects in various stages of development internationally, aggregating to more than 6 GW and 65 GWh of long-duration storage. 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 each. Curtis VanWalleghem, CEO, Hydrostor, said: “Hydrostor is proud to receive the support of BDC Capital’s Cleantech Practice to advance our world-leading technology that will accelerate global decarbonization efforts and mitigate climate change. Zoltan Tompa, Director, BDC Capital’s Cleantech Practice, said: “Hydrostor is a world-leading developer of reliable and emissions-free long-duration energy storage systems. Hydrostor is unique in its ability to cost-effectively store vast amounts of otherwise curtailed renewable energy, such as wind and solar, and in doing so, addresses one of the key barriers to realizing a net-zero energy grid.