Canadian company Hydrostor has secured around $4 million (£2.3m) in funding for the advancement of long duration energy storage in the country.
The funding from Natural Resources Canada will enable the company to pursue the development of a 300MW – 500MW Advanced Compressed Air Energy Storage (A-CAES) facility.
It will be used to complete essential engineering and planning and enable Hydrostor to take steps towards construction, with the project modelled on the success of its commercially operating Goderich storage facility, which provides up to 12 hours of long duration energy storage.
Once built, it is expected to be the largest energy storage facility in Canada, supporting the nation’s green economic transition and the decarbonisation of the grid.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition.
“This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonise the electricity sector.”