San Francisco, Calif., April 29, 2021 (GLOBE NEWSWIRE) – Hydrostor, a provider of long-term energy storage solutions, today announced the development of 1,000 MW of long-term energy storage in the state.
The California Public Utilities Commission has identified a need for up to 1,600 MW of long-term energy storage by 2026. Long-term energy storage is critical to meeting decarbonization and renewable energy goals from California. Hydrostor is proud to play a pivotal role in the state’s clean energy transition and looks forward to continuing to work with the Commission to establish its trade route for long-term energy storage.
Hydrostor currently has two large projects in active development – one in southern Kern County and the other in central California – representing a combined investment of over US $ 1.5 billion, creating economic opportunities for Californians while supporting the transition to a renewable, carbon-free energy grid. Project development work, including transmission interconnection, engineering and permitting activities, is well advanced. These are large capital projects that build long-term clean energy infrastructure for the state using highly skilled union jobs and provide significant economic benefits to the region.
Hydrostor’s patented and commercially proven A-CAES technology provides over 8 to 12 hours of energy storage, compared to 1 to 4 hours current battery technologies can provide. This long-term energy storage is essential to pave the way for California’s carbon-free electricity grid. A-CAES also has a longer lifespan, over 50 years, without degradation and with a lower environmental impact than conventional alternatives available today.
Curtis VanWalleghem, CEO of Hydrostor, said: “Long-term storage is essential to decarbonize California’s electricity grid and integrate renewable energy already developed in the state. Our A-CAES technology uses only existing and proven components that are reused from conventional power generation into fully emission-free, low-impact storage technology. Not only do we provide a clean, reliable and affordable long-lasting energy storage solution, but we also offer California workers and suppliers a more direct opportunity to be part of the clean energy transition.“
Alex Morris, executive director of the California Energy Storage Alliance, said: “Hydrostor has been at the forefront of promoting long-lasting energy storage in California. We are pleased to see them continue to play their leadership role in welcoming them to the CESA Board of Directors and look forward to working with them to advance long-term energy storage in California. As studies have shown, there is a significant need for long-lasting energy storage to support California’s decarbonization goals. “
Hydrostor has been actively advancing its plans since 2017 to be ready for the state procurement initiatives that are now imminent, expanding its team and footprint in the state, and participating in California Public Utilities Commission (CPUC) proceedings. arguing for long-lasting energy storage. The company recently opened a new office in the San Francisco Bay Area and hired respected industry leaders, Curt Hildebrand and Julie Gill, to further strengthen project development activities in the state. Curt and Julie collectively bring over 60 years of experience in the power industry and have successfully managed the development of over 5,000 MW of new power projects in California.
Hydrostor is advancing a pipeline of large-scale A-CAES facilities that represent more than 2,000 MW and 20,000 MWh of short-term project deployment potential in the United States, Canada, Chile and Australia.
For more information, please visit: hydrostor.ca
Hydrostor is a provider of long-term energy storage solutions that provides reliable and affordable integration of long-term energy storage, enabling grid operators to scale renewables and secure grid capacity. Hydrostor supports the green economic transition by employing the people, suppliers and technologies of the traditional energy sector to design, build and operate emission-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-lasting energy storage and enable the transition to renewable energies. Hydrostor has projects all over the world at different stages of development to provide a capacity of over 200 MW and for 6 hours or more. Learn more about Hydrostor here: hydrostor.ca
Advanced-Compressed Air Energy Storage (A-CAES) is a long-lasting energy storage system that combines components from existing energy systems to create an advanced, emission-free, low-impact, cost-effective, and locateable storage system . where the network needs it. This innovative use of proven technologies provides a scalable, reliable and bankable energy storage solution for utilities and regulators.
A-CAES uses renewable energy or excess grid energy to compress the air. This compressed air is then channeled into purpose-built underground caverns, displacing the water and creating storage capacity. The heat created by this process is captured and stored to heat the compressed air when energy is needed.
Using proven technologies and components, A-CAES has an already established supply chain, as well as a workforce trained in the oil and gas sector, enabling a seamless transition to a renewable economy and a energy network. Learn more about how A-CAES works here: https://www.hydrostor.ca/technology/