Energy Storage Startup XL Batteries Exploring Collaboration on Li-Ion Alternatives in Japan
Energy storage company XL Batteries announces it has entered into a memorandum of understanding (MOU) with ENEOS Holdings, Inc. (ENEOS HD), the parent company behind ENEOS Group, one of Japan’s largest energy firms, to advance its battery technology and accelerate commercial deployment.
The MOU establishes a framework for long-term collaboration to commercialize non-lithium-ion batteries at grid scale. According to a company spokesperson, the collaboration will begin with a joint feasibility study, which ENEOS HD intends to facilitate and explore future large-scale deployment opportunities in Japan.
But the spokesperson adds that XL Batteries, a global company, remains focused on pursuing opportunities for its battery technology across markets worldwide.
XL states its battery chemistry uses the same basic architecture as a vanadium redox flow battery, but replaces vanadium with proprietary organic, water-soluble molecules to avoid cost and supply constraints. Because the core fluid is aqueous, the company notes this battery technology cannot ignite or catch fire under stress, unlike traditional lithium-ion batteries that rely on volatile components.
The Massachusetts start-up is positioning itself amid global demand for cost-effective battery storage applications that can deliver multiple use cases such as grid services and load frequency regulation. Global power grids face electrification load pressures from rising industrial demand and computing demand from the rapid growth of data centers.
“XL Batteries’ technology is purpose-built to meet the growing need for long-duration energy storage, and this collaboration with ENEOS HD will help accelerate our ability to scale,” said Tom Sisto, CEO and co-founder of XL Batteries, in a statement. “We are excited to partner with ENEOS HD, which has a forward-thinking and comprehensive approach to the future of energy.”
This partnership highlights ENEOS HD’s active involvement in advancing numerous power generation and electrification technologies for commercial and industrial customers. Japan reportedly imports 90% of its energy fuels, which highlights the nation's power generation needs.
In June, ENEOS HD’s largest subsidiary, ENEOS Corp., entered into a partnership with Yanmar Power Solutions to install a maritime hydrogen fuel cell system for a dining cruise to enter service in 2027.
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