Hydrostor secures $55mn Canadian support for its storage project in Australia

The Canadian government grants $55mn funding to Hydrostor to support the development of its 200 MW Silver City storage project in New South Wales.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Hydrostor has secured a $55mn credit facility from Export Development Canada (EDC) to finance the early phases of its Silver City energy storage project, currently under development in Broken Hill, Australia. The project, based on advanced compressed air energy storage (A-CAES) technology, is planned with a capacity of 200 MW.

A large-scale storage project in Australia

The EDC financing will cover development expenses and the letter of credit requirements necessary for the progress of the project. Silver City represents Hydrostor’s first utility-scale implementation, a Toronto-based company specialising in long-duration storage systems. This type of facility is designed to provide grid flexibility by replacing ageing fossil fuel plants.

Curtis Vanwalleghem, Chief Executive Officer and co-founder of Hydrostor, stated that the financial support will allow the company to reach a critical stage towards the commercialisation of its solutions. According to him, this project reflects the growing interest in technologies capable of delivering reliable and resilient energy.

Strategic support for Canadian export

For EDC, this transaction illustrates its objective of promoting innovative Canadian exporters in international energy markets. Alison Nankivell, President and Chief Executive Officer of EDC, indicated that this financing aims to support Canadian intellectual property while strengthening the presence of its companies in global energy projects.

Alongside the Silver City project, Hydrostor has a development pipeline exceeding 7 GW across several markets, including Canada, the United States and Europe. The company seeks to establish its advanced storage systems as a replacement alternative for ageing thermal infrastructure.

Japanese company AI.net has signed a supply deal with China’s CATL for 1GWh of lithium-ion batteries, marking its entry into large-scale energy storage with a target of 500MW by March 2028.
Canadian group Energy Plug Technologies continues its expansion in the US market with the delivery of a new energy storage system to an industrial client based in the southern region.
Despite the emergence of new storage technologies, lithium-ion batteries retain a dominant position thanks to industrial leadership, improved performance and a high geographic concentration of production capacity.
Envision Energy launches the Gen 8 platform, a modular storage range from 6 to 12 MWh, aiming to optimise energy density, logistical flexibility, and profitability for large-scale projects.
BAK Battery presented in Chongqing its semi-solid batteries ready for industrialisation, with cells reaching up to 390Wh/kg, confirming its strategy focused on scenario-specific adaptation and mass production.
Daiwa Energy & Infrastructure has launched a 38MW grid-scale battery system in Chitose, aiming for commissioning in 2027, as part of its deployment of high-voltage storage assets across Japan.
Menlo Digital has started construction on its MD-DC1 data centre in Herndon, marking a key step in its national development programme exceeding 1.8 GW.
Finnish energy company Vantaan Energia has selected Elisa Industriq’s Gridle service to operate its new energy storage system in Rekola, supporting national grid flexibility.
US-based Eos Energy will supply up to 750 MWh of zinc-based storage systems to MN8 Energy, targeting high-demand projects such as data centres and industrial facilities.
Eos Energy and Talen Energy partner to develop multiple energy storage projects in Pennsylvania to meet rising electricity demand driven by AI and cloud computing growth.
NEO Battery Materials will supply high energy density batteries to a South Korean industrial robotics company under a $2.5M CAD order and joint development agreement over two years.
US-based battery storage developer Bimergen Energy has appointed Cole Johnson and Robert Brilon as co-CEOs to execute a large-scale industrial plan backed by $250 mn in recent funding.
Trina Storage has introduced its new Elementa 3 energy storage system, engineered for the Gulf’s extreme conditions and aimed at boosting energy density while lowering operating costs.
Japanese company Sun Village has connected its first energy storage facility to the grid and formalised a strategic partnership with Marubeni Power Retail to operate the asset on electricity markets.
Lightshift Energy has secured $75mn in funding from KeyBanc to support six operational projects and launch ten more, in response to rising demand for electric storage on the US East Coast.
Austrian battery optimisation specialist enspired enters Japan in partnership with Banpu NEXT, backed by a Series B extension to over €40mn.
Ameresco has completed a 50 MW battery storage system to support Nucor’s expansion in Arizona, marking one of the largest behind-the-meter industrial projects in the United States.
Rondo Energy has launched commercial operations of the world’s largest industrial heat battery, delivering 24-hour steam from off-grid solar power.
SUNOTEC expands in the Bulgarian market with seven projects combining battery and solar, totalling 763 MWh of storage and 115 MWp of photovoltaic capacity.
Danish fund Copenhagen Infrastructure IV transfers half of its stake in the UK-based Coalburn 2 project to AIP Management, strengthening AIP's energy storage portfolio in the United Kingdom.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.