Energy technology company Baker Hughes and Hydrostor, a specialist in long duration energy storage, have announced a strategic technology solutions and equity agreement. Baker Hughes will deepen its relationship with Hydrostor, integrating Baker Hughes’ technology capabilities as part of Hydrostor’s core design offering for its advanced compressed air energy storage (A-CAES) solution. This includes up to 1.4 GW of Baker Hughes equipment orders for Hydrostor’s flagship projects.
“Increasing pressure on electric grids is making long-duration energy storage an urgent priority. Hydrostor’s innovative approach offers a low-carbon solution to ensure power reliability across a diverse mix of generation resources,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes.
Baker Hughes has been an investor in Hydrostor since 2019. This latest strategic agreement marks an expansion of the relationship as Hydrostor advances the construction phase of its flagship projects in the USA and Australia. In the initial phase of the expansion, Hydrostor will be deploying up to 1.4 GW of power generation and compression technology solutions from Baker Hughes’ portfolio of offerings.
