XL, a company developing an organic flow battery technology, has made significant progress in the field of long-duration energy storage. The company’s technology uses a type of molecule that is 100 years old, but has been reworked to be used in a flow battery. This technology is more cost-effective and scalable than traditional flow battery technology, which uses vanadium. XL has partnered with Stolthaven Terminals to develop a flow battery with industrial-scale electricity storage capability and has raised $10 million in series seed II funding. The company is planning to release a commercial product soon and is aiming for market dominance. XL’s technology has several benefits, including the potential to decouple costs related to power and energy, and the ability to scale up without increasing costs. The company is also seen as a safe alternative to traditional lithium-ion batteries, which can be prone to thermal runaway and fires. Despite challenges in the industry, XL remains enthusiastic about its prospects and believes it has a core technology that is ready to move into commercial scale demonstrations.
xl batteries’ dominance in the market is a testament to its pioneering work in the flow battery space.
