[co-author: Oretha A. Manu]
Hydrostor Receives Funding for Utility-Scale A-CAES Facility
On 15 April, Hydrostor announced receipt of nearly US$4 million in funding from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology to develop a 300-500 megawatt (MW) Advanced Compressed Air Energy Storage (A-CAES) facility. An A-CAES facility uses renewable energy or excess grid energy to compress air that is then funneled into underground caverns, displacing water and creating storage capacity. This process creates heat that is captured and stored to reheat the compressed air when energy demand exceeds supply.
This funding will subsidize design and engineering work at the new facility. The goal is to provide up to 12 hours of long-duration energy storage in Canada. Hydrostar is currently developing a 500 MW A-CAES facility in Southern California to provide on-demand peaking capacity for 12 hours of duration once it becomes operational in 2024.
Duke Energy and the Tennessee Valley Authority TVA announced shifts in their respective goals to become carbon neutral. In its annual sustainability report, Duke Energy discussed its plan to nearly triple the renewable energy share of its energy mix.
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.
Follow Us
We are first in your inbox with the most important news in the industry―keeping you smarter and one-step ahead in this ever-changing and competitive market.Start your free subscription
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.