Hydrostor

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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. 

Projects

MANAGEMENT TEAM

Curtis VanWalleghem

CHIEF EXECUTIVE OFFICER, BM

MBA, BASc, PMP

Curtis has been CEO of Hydrostor since its inception and has led the company through technology development into commercial …

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Jon Norman

PRESIDENT

MASc, P.Eng

Jon is a professional engineer with over 20 years experience in the power industry, management consulting, and government …

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Guy Bentinck

CHIEF FINANCIAL OFFICER

MA, CPA, ICD.d

Guy is a Chartered Professional Accountant with 25 years of experience in the natural resource and power generation sectors …

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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 …

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Dean Comand - Headshot

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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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Sebastien Gagnon

BOARD MEMBER

Mr. Gagnon is a Managing Director within Goldman Sachs Asset Management and serves on the Infrastructure Investment Committee …

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Curtis VanWalleghem

CHIEF EXECUTIVE OFFICER, BOARD MEMBER

Curtis has been CEO of Hydrostor since its inception and has led the company through technology development into commercial …

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Gunduz Shirin

BOARD MEMBER

Mr. Shirin is a Vice President within Goldman Sachs Asset Management, focused on Energy Transition investment opportunities …

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CAREERS

Opportunities
Technology
Curt

Curtis VanWalleghem

CHIEF EXECUTIVE OFFICER, BOARD MEMBER

MBA, BASc, PMP

Curtis has been CEO of Hydrostor since its inception and has led the company through technology development into commercial operations. Prior to Hydrostor, Curtis worked in Deloitte’s Corporate Strategy Consulting Practice where he advised and consulted for some of the top energy companies globally. He has also worked at nuclear generator Bruce Power.

jon

Jon Norman

PRESIDENT

MASc, P.Eng

Jon is a professional engineer with over 20 years experience in the power industry, management consulting and government. Jon currently oversees Hydrostor’s strategic growth as President and was previously Chief Operating Officer.  Prior to Hydrostor he held senior roles at Brookfield Asset Management, including leading commercial development, regulatory policy and government relations across North America and Europe for the power and utilities business. In earlier roles he served as project manager for environmental infrastructure and held senior roles in government, where he led grid and networks policy development in Ontario as well as interjurisdictional negotiations. Jon holds an interdisciplinary master’s degree in engineering and economics from the University of Toronto.

Guy B

Guy Bentinck

CHIEF FINANCIAL OFFICER

MA, CPA, ICD.d

Guy is a Chartered Professional Accountant with 25 years of experience in the natural resource and power generation sectors. Guy is a seasoned executive with a record of accomplishments in leadership, strategy, value creation, capital markets and capital projects. He has previously been Chief Financial Officer for a number of companies, including Fairfax Africa, Sherritt International Corporation and Royal Utilities Income Fund, and has also served as SVP Capital Projects at Sherritt and President and CEO of a resource development company.

jordan

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 Management expanding the company’s renewable power, real estate and infrastructure global platforms. Prior to joining Hydrostor, Jordan was the Chief Investment Officer within Brookfield’s district energy platform, Enwave Energy Group. He has experience in renewables and infrastructure project development, and has been involved in a number of key transactions and financings. Jordan holds both honors BBA and MBA degrees from the Schulich School of Business at York University.

Dean Comand - Headshot

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, manufacturing, mining, telecommunications, and utilities (regulated and non-regulated) experience with associated P&L oversight in both start up and growth organizations. Dean was the President and Chief Executive Officer of Hamilton Utilities Corporation (HUC), with a portfolio containing infrastructure, Solar and Power generation, electricity distribution and other green technologies.  Prior to holding the CEO and Presidents role with HUC, Dean was the Vice President of Operations for Ambatovy, which is one of the most ambitious industrial undertakings in the history of Madagascar, where he successfully led the construction, commissioning and operations of one of the world’s largest lateritic nickel mine/refineries to Commercial Operation. Through his career, Dean has overseen a variety of organizations and facilities throughout Canada, United States, Europe and the South African Region.

cam

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 a half in the Oil and Gas equipment manufacturing industry in Alberta, working with start-ups such as Chadco Canada and Delaney Energy. Pairing his conventional energy knowledge with his experience in wind farm development in Ontario, he created the Environmental Electric Company to continually advance renewable technology to best serve the expanding market. Bringing ideas to life has been fundamental throughout his career.

andrew

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 project management, coastal process investigations, and design. Most of his past work involves site investigations and engineering design of marine structures such as revetments, breakwaters, harbours, offshore wind turbine foundations, and scour protection. He is now focused on managing the design and engineering process at Hydrostor.

cindy

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 track record with strong relationship building skills and knowledge in a fast-paced, cutting-edge environment. She is responsible for oversight of our finance, corporate operations, HR and IT departments. She holds a CPA, CMA, an honours BMath/BA from University of Waterloo and a MBA from Wilfried Laurier University.

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 and publicly traded entities. Mr. Miller is chairman of the board of Hydrostor Inc. and JDRF Canada, and a founder and board member of Redress Risk Management Inc. He was a founding director and shareholder of Petro Andina Resources Inc., Parex Resources Inc., and Gravity Renewables, Inc. Mr. Miller holds a Bachelor of Commerce degree from the University of Alberta, and is a Chartered Professional Accountant. He is a member of the Institute of Corporate Directors having completed the Directors Education Program in 2009.

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 the Corporate, Infrastructure, and Sustainability Investment Committees. He joined Goldman Sachs in 2003 and has nearly 20 years of experience in private equity investing and navigating strategic and financial matters across a broad range of industries. He also serves on the boards of Boyd Corporation, K&N Engineering, Mountaineer NGL Storage, Neovia Logistics, and Transcendia. Mr. Gailliot holds a Bachelor of Arts in Economics from Princeton University.

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 and investment banker. Mr. Bartlett is a director of Hydrostor Inc. and several private companies. He has been involved in the start-up, growth and successful exit of more than a dozen private and public companies in the conventional and renewable energy sectors, including a founding director and shareholder of Petro Andina Resources Inc., Parex Resources Inc., and Gravity Renewables, Inc. Mr. Bartlett graduated with a Bachelor of Arts (Honours) degree from Queen’s University, and received a Master of Arts degree from the University of Toronto. He served as a Trustee of Queen’s University, and is a member of the Institute of Corporate Directors having completed the Directors Education Program in 2016.

 

Sebastien Gagnon

BOARD MEMBER

Mr. Gagnon is a Managing Director within Goldman Sachs Asset Management and serves on the Infrastructure Investment Committee. He has extensive experience executing and managing investments in energy transition and infrastructure businesses and serves on the boards of Northvolt AB, Lucid Energy II, and Mountaineer NGL Storage in addition to Hydrostor. Sebastien is also a board observer at Redwood Materials. Prior to joining Goldman Sachs in 2013, he worked in private equity investing roles at Apax Partners and Global Infrastructure Partners. Mr. Gagnon holds a Bachelor of Commerce from McGill University and an MBA from Harvard Business School.

Curtis VanWalleghem

CHIEF EXECUTIVE OFFICER, BOARD MEMBER
Curtis has been CEO of Hydrostor since its inception and has led the company through technology development into commercial operations. Prior to Hydrostor, Curtis was Sr. Manager in Deloitte’s Corporate Strategy Consulting Practice where he advised and consulted for some of the top energy companies globally. He has also held positions at nuclear generator Bruce Power and wind developer Environmental Electric Company.

Gunduz Shirin

BOARD MEMBER

Mr. Shirin is a Vice President within Goldman Sachs Asset Management, focused on Energy Transition investment opportunities in the Americas. He has an extensive experience in evaluating, executing and managing private equity investments across a broad range of sectors. Prior to joining Goldman Sachs in 2014, Mr. Shirin worked in investment banking at Bank of America Merrill Lynch in the Financial Sponsors Group. Mr. Shirin holds a Bachelor of Science in Economics from Duke University.