Will compressed air storage systems replace lithium ion batteries? Image source: Shutterstock (#377533933)
Canadian firm Hydrostor unveiled their new compressed air storage solution Terra, and claims it can easily rival both lithium-ion batteries and natural gas plants in terms of power generation. Hydrostor can build the required tunnel shafts virtually anywhere and uses water to maintain the pressure. Terra facilities are mostly underground storage assets with a regular-size industrial building being the only visible part.
Fortune 500 engineering firm AECOM acts a developing partner while Canoe Financial is handling project financing. Having won big partners for their ambitious project, Hydrostor now wants to convert shuttered coal-powered generating facilities into power plants.
The price point for a Terra, if the provided information is correct, is years ahead of rivals in the advanced storage industry. Customers can choose the power to energy ratio of their plant, and therefore adapt the system to how many megawatts they need.
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