ENERGY STORAGE

Saltwater long-duration storage developer AQUABATTERY closes €6m seed funding round

April 24, 2024

Dutch saltwater long-duration energy storage (LDES) system developer AQUABATTERY has closed a €6 million seed investment round.

The round was led by EIT InnoEnergy and supported by InnovationQuarter, Invest-NL, Init Power, and a group of business angels.

AQUABATTERY says it is developing a novel flow battery that can store clean electricity in table salt and water for eight hours “or longer”. When charged, the battery converts saltwater into acid and base and reverses the process when discharged. The company is preparing to launch its fourth pilot battery in Delft later this autumn.

Jiajun Cen, CEO and co-founder of AQUABATTERY, said: “The capital will catalyse the development of our first standardized battery module and boost the hiring of top-tier talent to the team”.

Roel van Diepen, investment director at EIT InnoEnergy Benelux, added that the investment round “confirms the key role we expect flow batteries to play in our future energy system as we see the technology maturing into commercially viable solutions”.