# Hydrostor

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hydrostor

- Industry: Power & Utilities
- Headquarters: Toronto, Canada
- Website: www.hydrostor.ca/
- Latest round: Series B (Nov 16, 2016)
- Investors on record: 3

## About

Based in Canada, Hydrostor specializes in innovative compressed air energy storage (CAES) technology, providing utility-scale energy storage solutions that help stabilize the grid and manage energy demand effectively.Hydrostor Inc. develops advanced energy storage technologies through its proprietary CAES system. Hydrostor Inc. develops advanced energy storage technologies through its proprietary CAES system. Founded in 2010 by co-founder and CEO Curtis VanWalleghem in Toronto, Canada. In August 2026, Hydrostor Inc. raised USD 230 million in venture funding from Baker Hughes Company, HATCH, Realize Capital Partners, Social Finance, Canadian Business Growth Fund, CPP Investment Board, and Goldman Sachs Asset Management. Hydrostor specializes in utility-scale long-duration energy storage solutions through its innovative compressed air energy storage (CAES) technology. This involves capturing excess energy during low demand, converting it to compressed air for storage in underground caverns, and releasing it to generate electricity when demand rises. The company serves utility companies and regional energy providers in key markets including the United States, Canada, and Australia, offering scalable, emissions-free alternatives to traditional energy generation.Hydrostor generates revenue through partnerships with utility providers and energy companies seeking reliable, large-scale energy storage solutions. Revenue is derived from direct agreements where clients pay for installation and maintenance of storage systems based on their specific project requirements, supported by long-term contracts that ensure stable revenue while enhancing grid reliability. In August 2026, Hydrostor Inc. raised USD 230 million in venture funding from Baker Hughes Company, HATCH, Realize Capital Partners, Social Finance, Canadian Business Growth Fund, CPP Investment Board, and Goldman Sachs Asset Management. The company plans to utilize August 2026 funding to support its global energy storage projects and advance them toward development and deployment.

## Funding rounds

- Series B, Nov 16, 2016 — ArcTern Ventures, Lorem Partners, Canoe Financial

## Investors

- ArcTern Ventures (https://capitalatlas.ai/funds/arctern-ventures) — Series B
- Lorem Partners — Series B
- Canoe Financial (https://capitalatlas.ai/funds/canoe-financial) — Series B