Episode
95

Hydrostor Update with President Jon Norman

September 6, 2023
|
Duration:
1464180
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In This Episode:

Join David Arkell, John Pooley, Lysandra Naom, and guest Jon Norman, President at Hydrostor, on an episode all about Hydrostor. This episode features what they do, key business attributes, energy storage industry updates, projects, and more. Check out our 360 Carbon Excellence Program.

Highlights

  • Introduction to Hydrostor’s CAES Technology: Hydrostor’s technology utilizes advanced compressed air and water storage to create reliable, emission-free, long-duration energy storage options that can replace traditional fossil fuel-based infrastructure.
  • Major Projects in California and Australia: Norman highlights significant projects, including a 500 MW project in California and a 200 MW project in Australia, aimed at addressing regional energy reliability and storage needs.
  • Global Demand for Long-Duration Storage: He discusses the increased demand for energy storage solutions that last 8+ hours, driven by grid operators' needs to replace natural gas and coal plants with renewable energy sources.
  • Hydrostor’s Strategic Growth: Hydrostor has expanded significantly, supported by investments from partners like Goldman Sachs, and continues to pioneer CAES technology globally, with ongoing projects in North America, Europe, and Asia.
  • Company Culture and Adaptability: Norman emphasizes the importance of flexibility and shared environmental values in Hydrostor's success, helping the company to respond effectively to changing market and regulatory conditions.

    • Key Insights

    • Essential Role of Long-Duration Storage: Long-duration storage, such as Hydrostor's CAES, is essential for grid reliability, enabling a transition away from fossil fuels by providing consistent, long-lasting energy when renewable sources are insufficient.
    • Adaptability in a Changing Industry: Hydrostor’s approach includes continuous adaptation to policy changes, financing conditions, and technology demands, showcasing the importance of flexibility in the energy sector.
    • Importance of Policy and Mandates: New mandates in regions like California and New South Wales highlight the role of policy in accelerating the adoption of long-duration storage, with governments setting concrete targets for these technologies.
    • Scaling Clean Technology with Strategic Partnerships: Hydrostor’s growth and project success are bolstered by strong financial backing and partnerships, such as with Goldman Sachs, allowing them to scale their technology for broader impact.
    • Driving Global Energy Transition: Hydrostor's work in compressed air storage represents a crucial step in the broader energy transition, offering a clean, scalable solution that can support both large grids and isolated systems.
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