Goldman Sachs is investing in energy storage
Goldman Sachs invests $250mn in Hydrostor
The money will be used to progress near-term long-duration energy storage projects in California and Australia
Canadian energy storage manufacturer Hydrostor has secured $250mn in investment from asset management firm Goldman Sachs. The investment will be used to support the development and construction of Hydrostor’s advanced compressed air energy storage (A-CAES) projects. The technology uses surplus electricity to produce heated compressed air. The heat is extracted and stored in a thermal store while the compressed air is stored at a constant pressure in a purpose-built cavern. The heat and air can then be recombined to run through a turbine to generate energy when needed. “We are delighted with this investment by Goldman Sachs. It is transformational for Hydrostor and validates the competitivene
Also in this section
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
14 May 2025
Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition
13 May 2025
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
30 April 2025
State administrations are using a flawed metric to justify green energy projects
