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
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