What is Hydrostor?
Hydrostor is a leading developer and operator of long-duration energy storage systems, utilizing a patented technology that employs compressed air and water to store energy for eight hours or more. This innovative solution is designed to provide grid operators with reliable access to clean energy, irrespective of intermittent renewable sources like solar and wind. The company's technology addresses a critical need for grid stability and flexibility, enabling a more robust and sustainable energy infrastructure worldwide.
How much funding has Hydrostor raised?
Hydrostor has raised a total of $319M across 4 funding rounds:
Grant
$4M
Private Equity
$10M
Private Equity
$250M
Other Financing Round
$55M
Grant (2021): $4M with participation from Natural Resources Canada
Private Equity (2021): $10M led by BDC
Private Equity (2022): $250M supported by Goldman Sachs
Other Financing Round (2025): $55M featuring Export Development Canada
Key Investors in Hydrostor
Export Development Canada
Export Development Canada is a Canadian government agency that provides financing, insurance, and bonding services to Canadian exporters and investors. Their involvement suggests a strategic interest in supporting Canadian clean technology and infrastructure projects with global export potential.
Goldman Sachs
Goldman Sachs is a global financial institution renowned for its investment banking and asset management services. Their participation indicates confidence in Hydrostor's business model and its potential for significant financial returns within the burgeoning energy storage market.
BDC
BDC (Business Development Bank of Canada) is a Crown corporation that supports Canadian entrepreneurs with financing, consulting, and venture capital. Their investment in Hydrostor highlights a commitment to fostering innovation and growth in Canadian technology companies, particularly those with strong export capabilities.
What's next for Hydrostor?
With the recent infusion of major enterprise-level funding, Hydrostor is strategically positioned to accelerate its global deployment of long-duration energy storage solutions. The company's focus will likely be on scaling its operations, expanding its project pipeline, and further enhancing its technological capabilities to meet the growing demand for grid-scale energy storage. This capital will be instrumental in solidifying Hydrostor's market leadership and contributing to the decarbonization efforts of power grids internationally.
See full Hydrostor company page
