Swedish climate-tech startup Rivus Batteries has secured a €2 million seed funding round led by Turbine Capital to accelerate the commercialization of its organic redox flow battery technology for large-scale stationary energy storage.
The Gothenburg-based company is developing metal-free organic flow batteries that eliminate the need for critical minerals such as lithium, cobalt, and vanadium, offering Europe a more resilient and sustainable alternative for grid-scale energy storage.
The investment includes €800,000 from Turbine Capital, alongside participation from Almi Invest GreenTech and continued backing from existing investors, including Xista Science Ventures. The financing follows €2 million in non-dilutive grants recently awarded by Vinnova and the Swedish Energy Agency, bringing Rivus’ recent funding to €4 million.
Addressing Europe’s Energy Storage Challenge
As renewable energy becomes a larger share of Europe’s electricity mix, the need for reliable long-duration energy storage is growing rapidly. Existing technologies largely depend on supply chains for critical minerals concentrated in a limited number of countries, creating both geopolitical and economic risks.
Rivus aims to solve this challenge with a proprietary aqueous organic electrolyte chemistry designed specifically for stationary energy storage.
Unlike conventional flow battery developers that build proprietary hardware, Rivus has developed an electrolyte that is compatible with existing commercial flow battery systems. This “drop-in” approach allows manufacturers to adopt the technology without redesigning battery stacks, reducing deployment costs and accelerating commercialization.
From Research to Commercial Scale
The company has spent the past three years developing what it describes as one of the highest-energy-density organic electrolyte systems currently available for flow batteries.
Its technology has now reached Technology Readiness Level (TRL) 6, is protected by three patents, and has secured a manufacturing partner capable of scaling production using existing industrial chemical infrastructure.
Development has been supported through collaborations with research organizations including RISE and Uppsala University, funded largely through public innovation programs.
Customer Pilots Already Underway
Rivus plans to use the new capital to scale electrolyte production and launch its first commercial customer pilots.
The company has already secured two customer-funded pilot projects in the commercial real estate sector scheduled for 2026–2027. According to Rivus, simulations conducted with 15 prospective customers indicate attractive payback periods, suggesting strong commercial potential for the technology.
CEO Dr. Cedrik Wiberg said the investment will enable the company to accelerate both product development and market adoption.
“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 gives us a strong technological foundation. With Turbine Capital and Almi GreenTech, we gain partners who can help us scale production, secure industrial partnerships, and bring our technology to market faster.”
Building Europe’s Energy Independence
For Turbine Capital, the investment reflects the urgent need for European energy storage solutions that reduce dependence on imported critical minerals.
Managing Partner Karin Edström highlighted the strategic importance of Rivus’ technology as Europe continues expanding renewable energy infrastructure.
She noted that Rivus combines advanced battery chemistry with a scalable manufacturing model and compatibility with existing flow battery hardware, giving the company a credible pathway to competing on cost while strengthening Europe’s energy resilience.
As governments across Europe invest heavily in renewable power and grid modernization, scalable long-duration storage has become one of the continent’s most pressing infrastructure challenges. By replacing scarce metals with organic chemistry and leveraging existing manufacturing capacity, Rivus Batteries is positioning itself as a next-generation energy storage company supporting Europe’s transition to a more secure and sustainable energy system.
