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Rivus Batteries raises half a million Euros

- Rivus Batteries is part of Founders Loft incubator -

In a significant stride towards revolutionizing organic flow battery energy storage, Swedish deep tech startup Rivus Batteries has successfully secured €525,000 in funding. The additional capital will accelerate the deployment of Rivus Batteries' groundbreaking metal-free battery technology.

Rivus Batteries aims to redefine the landscape of energy storage by halving both the cost and carbon footprint associated with grid-scale energy storage. Their innovative approach involves replacing traditional heavy metal-based electrolytes with organic electrolytes in new flow batteries.

The infusion of funds will play a pivotal role in scaling up Rivus Batteries' electrolyte production and facilitate the installation of their first full-scale pilot batteries with customers. This strategic move aligns with the company's vision of positioning gigantic batteries at solar and wind farms, offering a sustainable and efficient solution for storing renewable energy.

Rivus Batteries is set to unveil its first full-scale prototype in the second half of 2024, with ambitious plans for a wider market release in 2025. Founders Loft applauds this milestone, highlighting the commitment to fostering innovation and supporting startups that strive to make a significant impact on the world.

About Rivus Batteries

Rivus develops aqueous organic electrolytes for flow batteries. Instead of filling flow batteries with salts of heavy metals, such as vanadium imported for example from China and Russia, the batteries are filled with organic materials that can be easily synthesized from standard bulk chemicals that are available in unlimited quantities. Rivus was founded in 2019 as a spin-off from Chalmers University of Technology and uses technology that was further developed during research at the University of Turku and the Technical University of Denmark.

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