Funding round
Hydrostor Growth
Reported as "Growth Equity"
Hydrostor, which works in long-duration energy storage system development in Toronto, raised $230M in a Growth round announced on 12 Aug 2026. 6 firms took part. It is Hydrostor's third venture round on record; the one before was a Growth in Jan 2022.
$230M
Amount raised
Not disclosed
Post-money valuation
6
Investors
no lead named
Valuation
What this round says about the price
Hydrostor did not disclose a valuation in this round. It came 55 months after Hydrostor's Growth. It is 44% of the $517M Hydrostor has raised in the venture rounds on record. No later venture round is on record for Hydrostor.
Hydrostor's funding rounds
Hydrostor has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
6 firms took part; no lead investor was named.
Investors
- Canada Growth Fund new investor
- Goldman Sachs Alternatives new investor
- Canada Pension Plan Investment Board new investor
- Baker Hughes new investor
- backs 46 venture-backed companies new investor
- new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
10 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $150M, and this round was 1.5 times the median. The closest in time, other companies' Growth rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Jupiter Power Renewable energy companies | 16 Sep 2026 | $1.40B | not disclosed | not named |
| Renewable energy companies | 24 Sep 2026 | $268M | not disclosed | Climate Adaptive Infrastructure |
| Renewable energy companies | 16 Sep 2026 | $100M | not disclosed | S2G Investments and Canada Growth Fund |
| Matrix Renewables Renewable energy companies | 23 Jun 2026 | $210M | not disclosed | DESRI |
| Acelen Renováveis Renewable energy companies | 26 May 2026 | $1.50B | not disclosed | International Finance Corporation and HSBC |
| new cleo Renewable energy companies | 23 Feb 2026 | $89M | not disclosed | not named |
| Renewable energy companies | 19 Feb 2026 | $47M | not disclosed | International Airlines Group (IAG) and Shell |
| Renewable energy companies | 3 Feb 2026 | $29M | not disclosed | RA Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Hydrostor raise in its Growth round?
Hydrostor raised $230M in its Growth round, announced in Aug 2026.
Which investors took part in Hydrostor's Growth round?
Canada Growth Fund, Goldman Sachs Alternatives, Canada Pension Plan Investment Board, Baker Hughes, Haatch and Realize Capital Partners.
What was Hydrostor's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Renewable energy companies?
10 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $150M, and this round was 1.5 times the median.