New Funds for Rivus Batteries

Gothenburg, 2026-07-10, Turbine Capital is investing EUR 800,000 in Rivus Batteries alongside Almi Invest GreenTech and continued support from existing investors including XISTA Science Ventures, to fund customer pilots and scale-up of electrolyte production. The round is complemented by EUR 2 milion in non-dilutive grants recently secured from Vinnova and the Swedish Energy Agency.

As renewables account for a growing share of European power generation, grid stability increasingly depends on energy storage that does not yet exist at the required scale. The dominant stationary energy storage technologies - lithium-ion and vanadium flow batteries - rely on critical minerals with concentrated supply chains in China and politically exposed geographies. EU policy is actively redirecting procurement and capital toward alternatives that reduce this dependency. Deployment volumes will need to be in place before 2030 for the grid infrastructure that is being built today to function as designed, which means the investment and development cycle is now.

Rivus has developed a proprietary organic electrolyte chemistry that outperforms comparable flow battery peers in energy density, is manufacturable within standard industrial chemistry infrastructure, and is designed as a drop-in solution compatible with existing commercial flow battery hardware. This removes the need for proprietary stacks and makes deployment significantly more scalable and capex-light than vertically integrated alternatives. Development to date has been funded largely on a non-dilutive basis - EUR 4 mi lion in total, including grants to research partners such as RISE and Uppsala University. The technology reached TRL 6 in June 2026, is protected by three patents, and has a confirmed manufacturing partner with a path to dedicated production within a few years.

Two customer-financed pilots in commercial real estate are confirmed for 2026–2027, a segment where simulations with 15 prospective customers confirm short payback periods.

"Europe is currently scaling renewables into a grid that cannot store them, using chemistries that reproduce the same critical mineral dependencies we are trying to eliminate. Rivus addresses this directly: their organic platform is technically ahead of its peers, the manufacturing pathway is de-risked, and the drop-in compatibility with cost inflection reachable within this decade, Rivus has a credible path to competing on cost per kWh stored, not dependent on the resilience premium that comes with a European, critical-mineral-free origin. That combination makes this investment a really compelling early-stage energy storage bet," 

~ Karin Edström, Managing Partner at Turbine Capital.

"Over the past three years, Rivus has developed an aqueous organic electrolyte system with, to my knowledge, the highest energy density and voltage on the market. This forms a strong technological foundation on which we can now build something great. Turbine Capital and Almi Greentech bring a wealth of experience on scaling deep-tech ventures as well as an extensive network for finding customers, industrial partners and capital. With this addition we will be able to scale our chemistry, deliver our first customer pilots over the next 18–24 months, and bring our technology to market faster." 

~ Dr. Cedrik Wiberg, CEO of Rivus Batteries.

At XISTA Science Ventures, we are proud to support Rivus Batteries as part of our portfolio and to see its technology gaining global recognition.