Toronto: Hydrostor, a global long duration energy storage developer, and Baker Hughes, an energy technology company, have announced a strategic technology solutions and equity agreement aimed at advancing large-scale energy storage initiatives.

According to BERNAMA News Agency, Baker Hughes will integrate its technology into Hydrostor's core design for its advanced compressed air energy storage solution. This collaboration includes up to 1.4 gigawatts of Baker Hughes equipment orders for Hydrostor's key projects.

Hydrostor co-founder and CEO, Curtis VanWalleghem, emphasized the agreement's significance in supporting the momentum behind the company's energy storage platform. He highlighted the platform's design, which aims to provide cost-effective reliability to power grids across the globe. VanWalleghem expressed enthusiasm for the continued partnership with Baker Hughes as they approach the construction phase of their flagship projects and work on expanding their project pipeline globally.

Baker Hughes chairman and CEO, Lorenzo Simonelli, remarked on Hydrostor's innovative approach, which provides a low-carbon solution to enhance power reliability across various energy generation sources. Simonelli expressed pride in supporting Hydrostor with essential technology to accelerate the projects and contribute to global grid resilience and sustainable power systems.

Since 2019, Baker Hughes has been an investor in Hydrostor, and this new strategic agreement further expands the relationship. Hydrostor is moving towards the construction of flagship projects in the United States and Australia, with plans to deploy up to 1.4 GW of Baker Hughes' power generation and compression technology.