Rivus Batteries raises €2 million to scale critical‑mineral‑free flow battery chemistry

Funding and timeline

Swedish developer Rivus Batteries closed a €2 million seed round led by Turbine Capital, with participation from Almi Invest GreenTech and continued backing from Xista Science Ventures. The raise is complemented by €2 million in non‑dilutive grants from Vinnova and the Swedish Energy Agency, bringing recent funding to €4 million. Rivus says the funding will support electrolyte production scale‑up and customer pilots, with the first pilots scheduled over the next 18–24 months.

Technology

Rivus has developed a proprietary aqueous organic electrolyte for flow batteries that avoids lithium, cobalt and vanadium. The company says the electrolyte delivers higher energy density and voltage than conventional flow battery solutions and can be produced using existing industrial chemistry infrastructure. It is designed to be compatible with commercial flow battery hardware, allowing deployment without building a new supply chain.

Market and scale

Backed by InnoEnergy from its early stages, Rivus positions its chemistry against long‑duration energy storage demand by reducing dependence on imported critical minerals while remaining compatible with existing industrial manufacturing. With customer pilots approaching, the company is moving from development toward commercial deployment to address scaling and supply‑chain constraints in European energy storage.