Hydrostor
Long Duration Energy Storage Systems for the Modern Grid
Toronto, Canada · Founded 2010 · $430.0M raised
- Headquarters
- Toronto
- Employees
- 51–200
- Founded
- 2010
- Business Model
- B2B
- Website
- hydrostor.ca
- Total Funding
- $430.0M
- Last Round
- $230.0M Growth EquityAug 2026
- Rounds
- 2
Totals include recorded grants and other qualifying funding, not just equity. What counts toward funding.
About
Hydrostor is a Canadian clean energy company that develops and operates long-duration energy storage (LDES) systems using its proprietary Advanced Compressed Air Energy Storage (A-CAES) technology. Founded in 2010 and headquartered in Toronto, Ontario, the company stores off-peak or surplus electricity by compressing air into underground hard rock caverns. The process recovers energy by releasing compressed air through turbines in a closed loop system. Hydrostor's projects are designed for 500 MW capacity with 8+ hours of storage duration and a 50+ year facility lifetime, requiring no critical minerals or hazardous materials. The company has offices in Toronto, Melbourne (Australia), and Denver (USA), and is backed by Goldman Sachs Alternatives, CPP Investments, and Canada Growth Fund. In February 2025 it secured a $200 million investment to accelerate Canadian and global deployment.
Summary
Hydrostor is an Energy company based in Toronto, Canada, founded in 2010. It has raised $430.0M in total across 2 rounds, most recently a $230.0M Growth Equity round in Aug 2026. Investors include Goldman Sachs Alternatives, Baker Hughes and Hatch Blue Ltd.
Tech & App Stack
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Funding History
Aug 2026
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Funding: Venture Round through Growth Equity. Amounts, valuations, and investors where available.
Investors
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