BOULDER — Gravity Renewables Inc., an owner, operator and developer of hydroelectric plants, is jointly developing utility-scale energy storage projects with Hydrostor Inc.
Boulder’s Gravity Renewables is now a preferred development partner with Hydrostor, a leader in compressed air energy storage, and will represent Hydrostor’s solutions in the New England, New York and Colorado markets, where Gravity owns hydroelectric projects.
“Gravity is pleased to team up with Hydrostor to provide what is arguably one of the most valuable missing pieces in our energy system today: storage,” Ted Rose, CEO of Gravity Renewables, said in a statement. “Developing [advanced compressed air energy storage] projects fits well with our core competencies and existing hydropower platform. These complimentary [sic] asset classes offer cost-effective, long-life and scalable options, which is what the market is looking for.”