Lead Cost Estimator

Hydrostor; Toronto; Hybrid; CAD 110,000 - 140,000; Full time

Benefits offered by this job

Discretionary Bonus

Paid Vacation Time

Medical, Dental and Vision Benefits

RRSP Program – with a match!

Employee Share Option Plan

Job summary

Hydrostor in Toronto, ON is seeking a Lead Cost Estimator to join our Technology team. In this senior individual contributor role, you’ll build and scale an integrated estimating capability spanning product development, technology evolution, and project execution.

Reporting to the VP, Project Engineering, you will partner across Engineering, Product, Strategic Sourcing, and Early Development to deliver decision-grade capital cost estimates that guide investments and inform supply chain strategy.

Qualifications

• 10+ years of cost estimating on large capital projects.
• Bachelor’s degree in Engineering, Construction Management, Finance, or related field.
• Certification in ACCE/ASPE/PMI or similar is a plus.

Responsibilities

• Develop and maintain baseline cost models (CAPEX, OPEX, escalation, contingency).
• Create dashboards and reports for leadership visibility and decision-making.
• Translate technology maturity and sourcing strategies into cost insights for product evolution.

Skills

Cost estimating

Project controls

AACE estimating

Cost modeling

Cross-functional collaboration

Education

Bachelor’s degree in Engineering/Construction Management/Finance

Tools

Aspen

Cleopatra

Job description

Location: Toronto, ON – Hybrid (3+ days/week in office)

Job Type: Full-Time

Travel Requirement: Approximately 10%

Position Type: Net New

Join the Future of Reliable Energy!

Are you ready to shape the future grid? Hydrostor, a leading energy storage, technology and infrastructure company dedicated to developing utility-scale, long-duration energy storage solutions, is seeking a Lead Cost Estimator to join our team in Toronto, ON. We’re supporting the development of a more resilient electricity grid and invite you to be at the forefront of this work!

Your Mission

Hydrostor is seeking a Lead Cost Estimator to join our Technology team. In this senior individual contributor role, you’ll build and scale an integrated estimating capability spanning product development, technology evolution, and project execution.

Reporting to the VP, Project Engineering, you will partner across Engineering, Product, Strategic Sourcing, and Early Development to deliver clear, decision-grade capital cost estimates. You’ll combine standardized product costs with site-specific scope, execution strategies, and regional dynamics to guide critical business decisions.

You’ll play a key role in early-stage project development, ensuring estimates inform investment decisions and shape supply chain strategy. This includes translating current, future, and emerging (R&D and new site) technologies into cost insights that drive product evolution and deployment.

Your work will directly support project development and execution readiness across North America and Australia—ensuring our innovations translate into lasting cost competitiveness and scalable supply chain outcomes.

Your Day-to-Day Adventures

Build & Evolve Product-Based Costing Frameworks

• Develop and maintain Hydrostor’s baseline product cost model, including direct CAPEX, indirect costs, EPC/M services, escalation, and risk and contingency
• Define clear boundaries between standard product scope and site-specific scope, including assumptions, exclusions, and interfaces
• Establish estimating structures aligned with AACE Guidelines and general project accounting and auditing standards, including application of WBS, CBS and cost account frameworks for consistent reporting and benchmarking
• Create standardized dashboards and executive reports to support company-wide visibility and senior leadership decision-making
• Partner with Engineering, Product, and Project teams to ensure alignment with approved configuration baselines
• Ensure estimates are structured to inform downstream project engineering, execution planning, and supply chain strategies

Translate Technology Advancement into Cost Advantage

• Quantify cost impacts from technology maturity, product standardization, modularization, and sourcing strategies
• Build and maintain parametric estimating models, cost curves, unit rates, and historical cost databases
• Integrate lessons learned and actual project data into estimating tools and future cost models
• Collaborate with Engineering and Strategic Sourcing to ensure cost insights influence product design and supplier strategies
• Develop forward-looking cost estimates for current, near-term, and future technology iterations, including hypothetical R&D pathways and new site applications

Own End-to-End Project Estimating

• Develop estimates across all project stages, from conceptual and screening through budget and detailed EPC-level estimates
• Perform quantity takeoffs, equipment and material pricing, labour productivity analysis, and indirect cost development
• Evaluate and incorporate supplier and subcontractor quotations into estimates
• Prepare comprehensive Basis of Estimate (BoE) documentation capturing scope, assumptions, methodology, and risk approach
• Support handoff from estimating to execution budgets with clear articulation of assumptions and exclusions
• Provide estimating support to project engineering and early-stage development activities, ensuring cost alignment with project scope and maturity

Incorporate Global Market & Execution Factors

• Apply country and regional adjustment factors to baseline estimates, including labour rates, logistics, procurement strategies, and site conditions to provide early cost insights and benchmarks
• Partner closely with Strategic Sourcing to incorporate supplier intelligence, negotiated pricing, and supply chain constraints/opportunities
• Ensure estimates reflect and inform supply chain strategy, including long-lead items, vendor selection, and procurement approaches
• Monitor commodity pricing, currency fluctuations, and global market conditions to inform estimates
• Support scenario analysis comparing baseline product cost with site-specific execution strategies
• Lead preparation of Basis of Estimate documentation with full traceability of assumptions
• Support risk identification, contingency development, and value engineering efforts
• Ensure alignment with configuration management, change control, and baseline updates
• Contribute to continuous improvement of estimating standards, tools, and governance practices
• Strengthen the integration between estimating outputs and project, product, and supply chain decision-making processes

Who You Are

You’re a seasoned cost estimating professional with deep experience in large-scale industrial or energy projects, combining technical rigour with strong commercial insight. You can translate engineering scope, supply chain dynamics, and evolving technologies into credible cost positions that inform investment decisions.

You thrive in cross-functional environments, influencing teams across Engineering, Product, Sourcing, and Project Development. You’re equally comfortable building parametric models for early-stage, emerging technologies as you are developing detailed EPC estimates for execution.

You bring experience with first-of-a-kind or new technology deployments and can confidently model cost uncertainty across varying levels of maturity.

Above all, you’re excited to shape a product-based estimating capability that supports the growth of a leading clean energy platform.

What You Bring

• 10+ years’ experience in cost estimating, cost engineering, or project controls on large capital projects
• Bachelor’s degree in Engineering, Construction Management, Finance, or related field
• Relevant certification (ACCE, ASPE, PMI, Chartered Surveyor, or similar)
• Strong knowledge of AACE estimating practices, classification frameworks, and quantitative risk assessment
• Proficiency with estimating tools (e.g., Aspen, Cleopatra, or equivalent)
• Experience in energy, oil & gas, LNG, power generation, mining, infrastructure, or similar industries
• Proven ability to deliver estimates across all stages (conceptual/parametric through detailed EPC)
• Deep understanding of cost structures, productivity, construction methods, contingency, escalation, and risk
• Ability to interpret engineering drawings, specs, PFDs, P&IDs, and technical documentation
• Experience working cross-functionally across engineering, procurement, product, and project teams
• Experience supporting project engineering, early development, and investment decision-making
• Ability to translate estimates into supply chain insights, including vendor engagement and procurement planning
• Strong analytical, communication, and presentation skills
• Experience with configuration management, BOMs, or product structures
• Experience building/maintaining parametric models, cost databases, and benchmarking tools
• Experience with emerging or first-of-a-kind technologies
• $110,000 - $140,000
• Discretionary Bonus
• Paid Vacation Time
• Medical, Dental and Vision Benefits
• RRSP Program – with a match!
• Employee Share Option Plan

Equal Opportunity Employer

At Hydrostor, we know that fostering an inclusive workplace, which values diversity, inclusion, and belonging is paramount to our success.

To fulfill our mission, our goal is to attract people who come from all backgrounds and walks of life, who bring diverse perspectives with wide-ranging experiences, and who share in our common passion to drive innovation and change the global energy landscape.

Hydrostor proudly embraces the principles of equal opportunity and inclusion. We are committed to providing opportunities for all employees and candidates. We ensure that all qualified applicants are considered for employment without regard to race, creed, colour, religion, gender, gender identity, gender expression, age, sexual orientation, national origin, marital status, parental, pregnancy, citizenship status, veteran status, disability, or any other protected status protected by applicable law.

Hydrostor is committed to making our application and interview process accessible to everyone, and we encourage applications from people with disabilities. If you require reasonable accommodation at any stage, please contact us at [e-mail]. In your application, we welcome you to specify your preferred pronouns (e.g. she/her/hers, he/him/his, they/them/theirs, etc.).

Use of Artificial Intelligence

Hydrostor does not use Artificial Intelligence (AI) tools to screen, assess, or select candidates during the recruitment or interview process.