NRStor Advances CAES In Ontario, General Compression and SustainX merges
NRStor has announced a partnership with two US companies, General Compression and SustainX, to construct large-scale, fuel-free compressed air energy storage (CAES) in Ontario. With this, General Compression and SustainX will merge to become GCX Energy Storage.
Deploying 1000 MW of CAES in Ontario could save up to $8 billion for rate-payers over a 20 year duration while reducing carbon emissions.
Experts say CAES is a cost -effective, long-duration energy storage technology that can effectively provide reliable base load power when supplemented with wind generation.
The companies believe that the installed cost of its long-duration storage project can be less than one-tenth of the estimated $350/kWh for battery storage projected for the year 2022.
More savings for Ontario rate-payers is set to come as NRStor and its partners continue to develop more projects, moving towards the 1,000 MW target. NRStor, General Compression and SustainX will work together in taking a phased approach to project development that aligns with Ontario’s need for a flexible, reliable and efficient energy grid.
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