XL Batteries Secures $7.5 Million Investment from Merrin Investors to Accelerate Commercialization of Safe, Low-Cost, Long-Duration Flow Batteries
XL Batteries, an emerging leader in the energy storage sector, announced today that it has successfully closed a $7.5 million investment round led by Merrin Investors, the mission-driven family office founded by entrepreneur and philanthropist Seth Merrin. This infusion of capital marks a pivotal moment in the company’s growth trajectory, enabling XL Batteries to scale operations, accelerate commercialization of its next-generation technology, and further solidify its role in supporting a more resilient, independent, and sustainable energy grid.
Addressing a Critical Energy Challenge
The global energy system is undergoing a profound transformation. As grids are pushed to their limits by soaring electricity demand from data centers, mass electrification of transportation, and energy-intensive manufacturing, utilities and governments are urgently seeking scalable solutions to ensure grid stability and resilience. While renewable energy sources such as wind and solar are being deployed at record rates, their intermittency poses a fundamental challenge: the grid requires reliable long-duration energy storage (LDES) technologies to balance supply and demand, store surplus clean energy, and deliver power when the sun isn’t shining or the wind isn’t blowing.
Historically, flow batteries have been viewed as a promising option for LDES due to their durability, scalability, and ability to decouple power and energy capacity. However, the widespread adoption of flow batteries has been slowed by their reliance on vanadium, a scarce and expensive metal that introduces both supply chain risks and prohibitive costs. As a result, despite decades of research, flow batteries have struggled to compete with lithium-ion batteries on price, even though they offer superior safety and longer lifespans.
XL Batteries’ Breakthrough: Organic Flow Batteries
XL Batteries is tackling these longstanding barriers head-on with its proprietary Organic Flow Battery (OFB) technology. Unlike traditional systems that depend on vanadium or other rare minerals, XL’s solution is built around organic, low-cost, and non-flammable electrolytes. This approach not only slashes costs but also removes the need for specialized supply chains, enabling a truly scalable and resilient storage solution that can be manufactured and deployed at industrial scale.
Key advantages of XL’s Organic Flow Battery include:
- Cost-efficiency: By replacing vanadium with abundant organic materials, XL dramatically lowers raw material costs and reduces dependence on volatile global commodity markets.
- Safety: The electrolytes are non-flammable and non-corrosive, eliminating the fire hazards and safety risks that plague lithium-ion batteries and vanadium flow batteries.
- Scalability: XL’s design supports modular deployment, enabling customized installations for utilities, industrial users, and hyperscale data centers.
- Durability: Flow batteries are inherently capable of tens of thousands of charge-discharge cycles without significant degradation, offering long operational lifespans and predictable performance.
These benefits position XL Batteries as a compelling alternative for stakeholders who need reliable, affordable, and safe long-duration storage solutions to manage the energy transition.
Merrin Investors’ Support and Strategic Vision
The $7.5 million investment from Merrin Investors provides XL Batteries with critical capital to accelerate commercialization. For Seth Merrin, who has a long history of backing transformative ventures, the decision was driven not only by financial opportunity but also by the desire to advance technologies that can make a measurable difference in the global push for clean energy.
“I’m thrilled to back XL Batteries because they are rewriting the rules of industrial-scale storage,” said Seth Merrin, Founder of Merrin Investors. “Its breakthrough, non-flammable technology delivers lower cost, longer life, and greater safety than anything else on the market. This investment will help accelerate the company’s ability to lead a trillion-dollar market while supporting the clean-energy transition — a perfect example of doing well by doing good.”
Merrin Investors’ involvement is expected to open new doors for XL Batteries in terms of partnerships, customer engagement, and long-term scaling opportunities, as the firm brings not only financial resources but also deep strategic expertise.
Momentum Through Partnerships and Pilots
XL Batteries is not starting from scratch — it has already achieved several important milestones that validate its technology and its business model. The company recently entered into a strategic partnership with Prometheus Hyperscale, which will see its Organic Flow Batteries deployed at data center campuses in the United States. This marks a significant first for flow batteries in the U.S. market and highlights the growing interest from hyperscale operators seeking safer, cost-effective alternatives to lithium-ion for backup power and grid resilience.
Additionally, XL Batteries is advancing a commercial-scale pilot project with Stolthaven Terminals in Houston, Texas, where its technology will be used to support industrial operations. These projects serve as real-world demonstrations of the scalability and versatility of the OFB, showcasing how it can meet diverse power needs across sectors ranging from utilities and data centers to heavy industry.
A Capital-Light Approach for Rapid Growth
Unlike some energy storage startups that face steep capital requirements for scaling, XL Batteries has adopted a capital-light business model that allows it to move quickly and efficiently. By leveraging existing manufacturing capacity and focusing on commercialization-ready technology, the company is well-positioned to bring its solutions to market faster than many competitors.
“Our capital-light approach is designed to help us scale rapidly while minimizing risk,” explained Tom Sisto, Co-Founder and CEO of XL Batteries. “Over the past several months, XL has hit several key milestones that prove our technology is effective. Now, with Merrin’s support, we are bringing the next generation of safe, cost-effective, long-duration batteries to market at a pace to meet growing demand.”
Sisto emphasized that XL’s mission extends beyond simply building a successful company. By providing affordable, scalable energy storage, XL Batteries is directly contributing to grid resilience, energy independence, and the broader clean energy transition.
