Hydrostor engages AECOM to bring its long duration bulk energy storage solution to Australia’s NEM in support of Finkel blueprint
TORONTO, August 8, 2017 – Hydrostor Inc., a global leader in Advanced Compressed Air Energy Storage (A-CAES), today announced it has engaged the services of AECOM in Australia to support its entry into the market. AECOM is a premier, fully integrated global infrastructure firm, and Hydrostor’s EPC partner in the deployment of it’s A-CAES systems globally. The engagement with AECOM’s Australia team will assist Hydrostor’s early stage project development efforts across the National Electricity Market (NEM). This work includes market assessments and site identification for deployment of the Hydrostor A-CAES solution in South Australia, Queensland, New South Wales and Victoria.
Hydrostor’s A-CAES technology delivers the lowest installed cost per kWh available for bulk energy storage today. At half the cost of competing battery technologies, Hydrostor A-CAES is uniquely positioned to support several of the key outcomes outlined in Dr. Alan Finkel’s report on the future security of the NEM.
First, Hydrostor A-CAES supports power system security. By utilizing synchronous equipment, the system provides essential security services in the form of rotational inertia, system strength and voltage control. As thermal synchronous generators retire, A-CAES can play a vital role in delivering these essential services.
Second, Hydrostor’s technology can help maintain system reliability as the penetration of variable renewable electricity (VRE) generators, like wind and solar, increases and thermal generators are retired. Hydrostor A-CAES has the flexibility to provide fast ramp rates and long duration dispatchable capacity more cost effectively than gas-fired generators. The system can also be paired with VRE generators to support renewables integration and avoid curtailed power output.
Lastly, Hydrostor A-CAES can help Australia lower its emissions and meet its international commitments. Unlike coal- and gas-fired alternatives, Hydrostor’s bulk energy storage technology is emission-free. A-CAES enables the transition away from fossil-fuel generation by delivering the same essential security services and dispatchable capacity, without the trade-off of increased emissions.
“Hydrostor’s entry into the Australian market changes the conversation on cost effective, emission-free alternatives to fossil-fuel generation and limited storage technologies,” said Curtis VanWalleghem, CEO of Hydrostor. “Hydrostor A-CAES beats natural gas to deliver essential services and dispatchable capacity, while offering longer duration and longer life storage of 30+ years versus batteries, at half the cost. A-CAES sizing and siting flexibility also offers significant advantages over pumped hydro.”
A-CAES utilizes a purpose-built underground air cavity and closed-loop reservoir which allows for flexible siting, with low noise and minimal surface footprint making it suitable for urban areas. A-CAES can also be installed in legacy mine sites or at retired coal-fired plants, repurposing site infrastructure for energy storage and putting mine workers and coal plant operators back to work. Learn more about Hydrostor A-CAES at: hydrostor.ca
About Hydrostor Inc.
Founded in 2010, Hydrostor is a leader in Advanced Compressed Air Energy Storage (A-CAES), a technology uniquely suited to help address electricity system needs for dispatchable capacity, renewable integration and optimization, transmission deferral, and behind-the-meter or remote applications for mines and large industrial operations. Hydrostor’s solution delivers low cost, long duration bulk energy storage (hundreds of megawatts, 4-12+ hours duration) that is synchronous, emission-free, and flexible to locate, including the ability to repurpose retired coal plants and leverage existing mining infrastructure. Learn more at hydrostor.ca.
Managing Director Hydrostor Australia