Hydrostor Secures Funding to Advance Long Duration Energy Storage in Canada padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
Thursday, 15 April 2021 Hydrostor, a long duration energy storage solution provider, announced it has received funding from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada to pursue the development of a 300-500 MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada. The Goderich A-CAES Facility, located in Goderich, Ontario, Canada
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.
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Hydrostor Receives Funding for New A-CAES Project
A Canadian company that has led design efforts for advanced compressed air energy storage (A-CAES) systems has received funding for development of a new 300-500-MW A-CAES facility.
Hydrostor, based in Toronto, Ontario, on April 15 announced a commitment of about $4 million for the project, which would be built in Canada, from Natural Resources Canada’s (NRCan’s) Energy Innovation Program and Sustainable Development Technology Canada.
Hydrostor Secures Funding to Advance Long Duration Energy Storage in Canada globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
The investment will support the university’s Lipid-to-Hydrocarbon (LTH) technology by developing pathways to generate renewable jet fuel from a range of feedstocks, including waste materials from the restaurant and livestock industries.
In addition, the commercial deployment of the technology, with multiple plants in various locations in Canada, will create jobs and other economic opportunities.
This project is funded through Natural Resources Canada’s Energy Innovation Program (EIP), which invests in the research, development and demonstration of clean energy technologies to lower emissions, including GHGs, with the aim of meeting 2050 clean growth targets. The EIP recognizes that innovations in clean energy technologies must be affordable, reliable and sustainable to support Canada’s transition toward a low-carbon economy.