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.
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“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.”