Hydrostor

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.