Rivus Batteries raises half a million Euros to deploy organic batteries
Summary
In addition, the company has secured two projects with the Swedish Energy Agency and a spot in the new Vinnova Deep Tech Accelerator Program worth in total 545,000 to further develop its solution. There is a race going on globally in this sector: while no one has yet launched a commercial product, and American startups receive massive support in the USA, Rivus has developed its technology in stealth mode in Sweden. Alexander Schwartz, partner at xista science ventures, adds: The combination of technological progress that Rivus made with initially very limited resources in an important and potentially game-changing field, as well as the excellent team, made Rivus such an attractive investment for us.Rivus expects to reveal its first full-scale prototype in the second half of 2024 and strives to achieve a wider market release during 2025.Rivus develops aqueous organic electrolytes for flow batteries. With a profound grasp of both scientific and investor perspectives, they stand out as an unparalleled partner to support founders in realizing their deep-tech ideas and building scalable enterprises. EIT InnoEnergy backs innovations across the entire cleantech sector and provides support, funding, and resources to startups and businesses, aiming to accelerate the transition to a more sustainable energy landscape in Europe and beyond.