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
12 March 2026
Role of world’s largest carbon cap-and-trade market under scrutiny as war in Iran threatens to drive EU energy costs to unsustainable levels
10 March 2026
Europe urgently needs to bring more projects to FID, as CCS investors warn they might divert capital to faster-growing regions
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
2 January 2026
This year may be a defining one for carbon capture, utilisation and storage in the US, despite the institutional uncertainty
