Toronto, Canada, July 19, 2022 (GLOBE NEWSWIRE) -- Hydrostor Inc. (“Hydrostor”), a leading long-duration energy storage solution provider, announced today that the California Energy Commission (“CEC”) determined that Hydrostor’s Application for Certification for its 500 MW/4,000 MWh Advanced Compressed Air Energy Storage (“A-CAES”) project in Kern County, California is Data Adequate. This milestone will officially initiate the robust public environmental review process for the project. The Willow Rock Energy Storage Center (“Willow Rock” and formally called the Gem Energy Storage Center) will be located north of the Los Angeles Basin near the community of Rosamond.
Also, earlier this year, Hydrostor received confirmation that the California Independent System Operator (“CAISO”) allocated the full 500 MW of resource deliverability for Willow Rock. This enabled Hydrostor to continue ongoing constructive offtake negotiations with various counter parties, with the vast majority of project capacity now shortlisted or in exclusive negotiations.
A-CAES is a breakthrough for long-duration energy storage, using commercially proven equipment and processes to provide affordable, large-scale, and emission-free long-duration energy storage. A-CAES operates similar to pumped hydro power, with the key difference being that it utilizes up to 10x less land and 20x less water, with less siting constraints when compared to equivalent sized systems.
Willow Rock will employ a peak construction workforce of 800 skilled workers totaling 2 million total work hours. The project will be a significant contributor to the local economy, providing over $500 million of regional direct and indirect economic impacts over its 50+ year life. Willow Rock will also be the largest stand-alone energy storage project in California.
"Long duration energy storage (“LDES”) technologies are making significant contributions to ensure the reliability of California’s electric grid. It is imperative that California create strong investment signals and devise regulatory frameworks for innovative technologies like LDES to continue to expand clean energy markets and move us toward a net-zero future." said Julia Souder, Executive Director, Long Duration Energy Storage Council.
"Kern EDC is very excited to hear that Hydrostor has met this important milestone. Long duration energy storage is a perfect fit for Kern County as our region has led the way in the development of renewable energy in California", said Richard Chapman, President & CEO of the Kern Economic Development Corporation.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer said, “Hydrostor is thrilled that one of its first large-scale commercial projects will be in California - a state that is long known for its entrepreneurial innovations and commitment to leading the clean energy future.”
The CEC will be commencing stakeholder meetings in the Rosamond community next month.
For more information, please visit the CEC Docket Log.
About Hydrostor
Hydrostor is a long-duration energy storage solutions provider that provides reliable and affordable utility integration of long-duration energy storage, enabling grid operators to scale renewable energy and secure grid capacity. Hydrostor supports the green economic transition, employing the people, suppliers, and technologies from the traditional energy sector to design, build, and operate emissions-free energy storage facilities. Hydrostor has developed, deployed, tested, and demonstrated that its patented Advanced Compressed Air Energy Storage (“A-CAES”) technology can provide long-duration energy storage and enable the renewable energy transition. A-CAES uses proven components from mining and gas operations to create a scalable energy storage system that is low-impact, cost-effective, 50+ year lifetime, and can store energy from 5 hours up to multi-day storage where needed. With investment support from Goldman Sachs Asset Management, Canadian Pension Plan, and Business Development Bank of Canada, Hydrostor has projects worldwide in various development stages for providing capacity of over 200 MW each. Follow us on LinkedIn.
Attachment
