XL Batteries Lands $7.5M for Organic Flow Battery Tech as US Energy Storage Projects Gain Momentum
A Georgia company, XL Batteries, has secured a significant boost with Merrin Investors committing $7.5 million to scale its organic flow battery technology. This investment is part of a broader trend, with nearly $900 million in loans pledged to US energy storage projects in just 24 hours.
XL Batteries, led by Dr. Michael Grätzel, aims to revolutionise energy storage with its organic flow battery technology. The company's innovative approach uses organic materials, making its batteries more sustainable and affordable.
The recent investment will enable XL Batteries to move from the lab to the market, scaling up its technology for commercial use. This funding is part of a wider surge in support for energy storage projects across the US. In a single day, nearly $900 million in loans were committed to such projects, highlighting the growing interest and potential in this sector.
XL Batteries' $7.5 million investment from Merrin Investors marks a significant step towards commercialising organic flow battery technology. This funding, along with the broader $900 million in loans for US energy storage projects, signals a promising future for the sector and its potential to drive sustainable energy solutions.
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