May 17, 2020

Chevron and BP stocks see gains in Energy Sector Index

Admin
1 min
BP office building
[email protected] The March issue of Energy Digital magazine is live The S&P 500 Energy Sector Index finished the day at 656.38, up 0.53 percent...

The March issue of Energy Digital magazine is live

The S&P 500 Energy Sector Index finished the day at 656.38, up 0.53 percent, and the index has advanced 2.82 percent in the last one month.

Shares in Chevron Corp. reported a trading volume of 5.39 million shares, as compared with a three months average volume of 6.61 million shares. The stock ended the day at $119.00, up 0.08 percent and at an intraday range of $118.84 and $119.61. Shares of the company traded at a PE ratio of 10.70. Chevron Corp.'s shares have gained 1.13 percent in the previous three trading sessions and 3.18 percent in the last month.

On Tuesday, BP PLC's stock finished the session 0.71 percent higher at $48.44. A total of 3.35 million shares were traded, which is below the three months average volume of 5.87 million shares. The stock fluctuated between$48.27 and $48.49 during the session. BP PLC's stock has gained 1.83 percent in the previous three trading sessions. The stock is trading above its 50-day and 200-day moving averages. BP PLC's 50-day moving average of $48.18 is above its 200-day moving average of $45.01. Moreover, shares of the company have an RSI of 52.11.

Photo credit: Jeff Whyte / Shutterstock.com

Share article

Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.

The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction. 

The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.

The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”

A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth. 

Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."

The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.

Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019. 

Share article