Hydrostor stock: Why are investors looking for it & can it be bought?

Highlights:

• Hydrostor said on Monday, January 10, that Goldman Sachs has committed US$ 250 million from its Private Equity and Sustainable Investing businesses.
• Hydrostor was started to support the green economic transition and is working to develop energy storage facilities
• Goldman Sachs is looking to support Hydrostor and will likely accelerate its operations so that the energy storage company expands its projects.

The Toronto-based developer of Advanced Compressed Air Energy Storage (A-CAES) solutions- Hydrostor Inc., is attracting potential investors in Canada as it announced an investment from Goldman Sachs Asset Management.

Hydrostor said on Monday, January 10, that Goldman Sachs has committed US$ 250 million from its Private Equity and Sustainable Investing businesses.

The company is into the long-duration energy storage business, and this fund is expected to support Hydrostor's plans of constructing two A-CAES projects in Australia and California.

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The work on these two projects is ongoing, and a US$ 250 million investment will expand and boost the development of Hydrostor's projects.

Hydrostor stock: Why are investors looking for it & can it be bought ?

Is Hydrostor publicly traded & can you buy its stock?

Unfortunately, you cannot buy the Hydrostor stock right now as it is not a publicly-traded company.

Hydrostor was started to support the green economic transition and is working to develop energy storage facilities that do not contribute to carbon emissions.

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The Toronto-based company had reportedly raised US$ 47 million in funding until the Goldman Sachs announcement. It remains private and has not announced an initial public offering (IPO) plan.

Bottom line

Goldman Sachs is looking to support Hydrostor and will likely accelerate its operations so that the energy storage company expands its projects.

Curtis VanWalleghem, chief executive officer (CEO) of Hydrostor, said that the fund by Goldman Sachs will help them strengthen their pipeline of potential projects.

Notably, Canada is looking to fight climate change aggressively, and companies working towards building a green and sustainable economy could receive benefits from the government to progress rapidly.

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The market for energy storage is already progressing rapidly, and a Mordor Intelligence report suggests that this industry will likely grow at a compound annual growth rate of 24.4 per cent between 2020 to 2025.

Meanwhile, the International Energy Agency (IEA) said last year that the global energy storage market rebounded after the pandemic and that new policies will accelerate growth in the market.