A Breakthrough Solution
About
Hydrostor, a private company founded in 2010 and based in Toronto, Canada, is the world’s leading developer of utility-scale energy storage facilities. Hydrostor’s proprietary Advanced Compressed Air Energy Storage (A-CAES) product improves on the mature Compressed Air Energy Storage (CAES) technology by eliminating emissions, increasing efficiency, and providing location flexibility. Hydrostor is uniquely situated to provide long duration, non-emitting, cost-effective energy storage enabling direct replacement of fossil generation, deferral of costly transmission investments and greater integration of renewable generation as the grid decarbonizes. A-CAES achieves this by offering equivalent large scale energy storage with the low cost, long duration, and long life of pumped hydro but with a key advantage of being able to flexibly site where needed and without the environmental impacts. By leveraging proven construction techniques with known standard equipment and using only air, gravity, and water – Hydrostor offers a bankable product that we are working with global EPC firms and partners to deliver around the world.
Our Mission
“Enabling The Energy Transition in an effective and positive manner and at a scale that truly makes a difference in reducing global climate change. Our product is a core component to the fundamental changes energy grids around the world are experiencing, to better our planet for generations to come.”
The Opportunity
Hydrostor believes substantial growth potential lies in the development, construction, operation, and ownership of A-CAES facilities due to its high-value grid applications and the growing need for long duration energy storage to enable the low carbon energy transition. A-CAES is an innovative integration of well-proven equipment and construction approaches that is more commercially mature than other emerging long-duration energy storage technologies. Over the next decade, the Global Market potential for long-duration grid scale energy storage that can be flexibly sited is expected to grow as much as 140+ gigawatts (GW). This market growth is being driven by significant, non-reversible grid trends, including aging power infrastructure and the variability introduced from growing penetrations of renewable energy.
Project Pipeline
Having proved commercial viability, Hydrostor’s near-term growth strategy is centered on executing on a world class pipeline of large-scale A-CAES projects generally comprising 200 to 500+ MW (megawatt) opportunities – representing over 6 GW (gigawatts) and 65+ GWh of deployment potential in the USA, Canada, Chile and Australia, with significant global project potential across many other markets. The Company is currently focused on four key markets and expects to be awarded high-value revenue contracts in the near-term. Beyond these core markets, significant growth is anticipated worldwide, as renewables penetration continues to expand, and markets recognize the need for long-duration storage.
MANAGEMENT TEAM
Curtis VanWalleghem
CHIEF EXECUTIVE OFFICER, BM
MBA, BASc, PMP
Curtis is the Co-Founder and CEO of Hydrostor and has led the company through technology development into commercial operations …
Jon Norman
PRESIDENT
MASc, P.Eng
Jon is a professional engineer with over 20 years experience in the power industry, management consulting, and government …
Guy Bentinck
MA, CPA, ICD.d
Guy is a Chartered Professional Accountant with 25 years of experience in the natural resource and power generation sectors …
Jordan Cole
CHIEF COMMERCIAL OFFICER
BBA, MBA
Jordan is a senior professional with 15 years of experience in the private equity space. He spent over a decade at Brookfield Asset …
Dean Comand
CHIEF OPERATING OFFICER
P.Eng, CDir
Dean is a Mechanical Engineer (P.Eng) and a Charter Director (CDir). He is an accomplished executive with construction, energy …
Cameron Lewis
FOUNDER & CHIEF TECHNOLOGY OFFICER
Cam has brought the ideas of Hydrostor to life in the innovative concepts and processes that founded the company. Cam has a decade and …
Andrew McGillis
SVP ENGINEERING
MSc, P.Eng
Mr. McGillis is a coastal and marine engineer. He has more than 10 years of experience working as an engineer in the marine sector, including …
Cindy Hung
SVP, FINANCE & CORPORATE OPERATIONS
MBA, CPA, CMA
As an experienced leader with over 20 years of professional experience in finance, accounting and corporate operations, Cindy has a proven …
Board of Directors
Ron Miller
CHAIRMAN OF THE BOARD
Mr. Miller is a Partner and co-founder of Lorem Partners. He has extensive experience in strategic and corporate finance matters for both privately held …
Charlie Gailliot
BOARD MEMBER
Mr. Gailliot is a Partner and Head of Energy Transition Private Equity Investing within Goldman Sachs Asset Management and serves on …
Curtis D. Bartlett
BOARD MEMBER
Mr. Bartlett is a Partner and co-founder of Lorem Partners. He has over 30 years experience as an entrepreneur and manager, venture capital investor …
Sebastien Gagnon
BOARD MEMBER
Mr. Gagnon is a Managing Director within Goldman Sachs Asset Management and serves on the Infrastructure Investment Committee …
Curtis VanWalleghem
CHIEF EXECUTIVE OFFICER, BOARD MEMBER
Curtis is the Co-Founder and CEO of Hydrostor and has led the company through technology development into commercial operations …
Gunduz Shirin
BOARD MEMBER
Mr. Shirin is a Vice President within Goldman Sachs Asset Management, focused on Energy Transition investment opportunities …
