Top Compressed Air Energy Storage startups
There are 39 Compressed Air Energy Storage startups which include Hydrostor, Augwind, Cheesecake Energy, Piller, Gaelectric. Out of these, 23 startups are funded, with 4 having secured Series A+ funding. United States has the most number of companies in Compressed Air Energy Storage (19), followed by Canada
(4), and then China (3).
Over the past 10 years, an average of 1 new company has been launched annually. Notably, several of these startups have been founded by alumni of Massachusetts Institute of Technology, University of Cambridge and Cornell University.
Here is the list of top Compressed Air Energy Storage Startups
1. Hydrostor
Developer of advanced compressed air energy storage for grid applications. The company provides long-duration energy storage solutions, leveraging compressed air stored in underground caverns. When power is needed, the process is reversed to dispatch energy. The technology offers a reliable and cost-effective alternative for large-scale energy storage. The company’s systems are designed to match grid requirements and provide essential grid services.
Key facts about Hydrostor
- Founded Year: 2010
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $565M
- Investors: Lorem Partners, Canoe Financial and 16 Others
- Latest Funding Round: Series D, Feb 13, 2025, $*****
- Tracxn Score: 64/100 What is this?
- Competitors Rank: 5 of 255 Competitors
2. Augwind
Augwind is a provider of underground compressed air storage systems for industries. The company has developed an elastic underground tank that provides high volume of storage at high pressure. Using the tank as a buffer between the compressors and machinery ensures a stable air pressure, besides this, due to time shift use, the load of compressors can be shifted to off-peak hours, thus reducing compressor idle modes and lower operating pressure, resulting in lower power costs.
Key facts about Augwind
- Founded Year: 2012
- Location: Rehovot (Israel)
- Stage: Funding Raised
- Investors: INCENSe Accelerator and Capital Nature
- Latest Funding Round: Grant (prize money), Jan 19, 2016, $*****
- Tracxn Score: 50/100 What is this?
- Competitors Rank: 25 of 255 Competitors
Provider of solutions for compressed air energy storage system. It provides green energy storage technology known as eTanker, which stores electricity in the form of compressed air and heat. It can be used for renewable microgrids, electric vehicle fleet charging, and heavy industry.
Key facts about Cheesecake Energy
- Founded Year: 2016
- Location: Nottingham (United Kingdom)
- Stage: Seed
- Total Funding till date: $5.64M
- Investors: BGF, The University of Nottingham and 8 Others
- Latest Funding Round: Grant (prize money), Apr 13, 2023, $*****
- Tracxn Score: 46/100 What is this?
- Competitors Rank: 33 of 255 Competitors
4. Piller
Piller is a developer of kinetic energy storage devices and UPS systems for military and commercial purposes. The kinetic energy storage device can deliver 1MW of electrical power for over 60 seconds and can be used in battery management systems alongside batteries to increase their life and efficiency. Claims that the device has a life of 20 years.
Key facts about Piller
- Founded Year: 1909
- Location: Markham (Canada)
- Stage: Funding Raised
- Investors: SudBG and VR Equitypartner
- Tracxn Score: 41/100 What is this?
- Competitors Rank: 46 of 255 Competitors
5. Gaelectric
eGaelectric’s business has focus on shore wind energy development and operations on the island of Ireland, energy storage systems and off-shore energy development . Gaelectric is a significant developer and operator of wind energy projects in Northern Ireland. The company uses compressed air storage technology and store energy deep underground. Gaelectric has offices in Dublin, Belfast, Chicago and Great Falls, Montana.
Key facts about Gaelectric
- Founded Year: 2004
- Location: Ringsend (Ireland)
- Stage: Deadpooled
- Total Funding till date: $9.25M
- Investors: Norddeutsche Landesbank, Lone Star Funds and 4 Others
- Latest Funding Round: Grant (prize money), May 31, 2018, $*****
- Tracxn Score: 39/100 What is this?
- Competitors Rank: 50 of 255 Competitors
