XL Batteries Enters into a Memorandum of Understanding with ENEOS Holdings, Inc. to Advance Long-Duration Energy Storage

Partnership aims to accelerate commercialization of XL Batteries’ Organic Flow Battery technology for grid-scale applications

Marlborough, MA — XL Batteries, an energy storage company commercializing a revolutionary, safe, low-cost, and reliable grid-scale battery, today announced it has entered into a Memorandum of Understanding (MOU) with ENEOS Holdings, Inc. (hereinafter "ENEOS HD"), the parent company behind one of Japan’s largest energy firms. The agreement establishes a framework for long-term collaboration to advance XL Batteries’ technology and accelerate commercial deployment.

As grids around the world face increasing pressure from electrification, industrial demand, and the rapid growth of data centers, scalable long-duration storage solutions will be critical to maintaining reliability and resilience.

XL Batteries is developing low-cost, safe, and scalable organic flow battery systems designed for grid-scale energy storage. XL’s technology replaces scarce, corrosive materials with abundant, non-toxic electrolytes, enabling a safer, lower-cost system designed for long-duration, high-cycle applications. Built on proven flow battery architecture and optimized for manufacturability and real-world deployment, XL’s technology aligns with the growing demand for storage solutions that can secure financing, meet safety standards, and operate reliably at scale.

“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. “We are excited to partner with ENEOS HD, which has a forward-thinking and comprehensive approach to the future of energy.”

With this MOU, ENEOS HD intends to explore the commercial advancement of XL Batteries’ next-generation technology. The collaboration with XL will begin with a joint feasibility study and is expected to facilitate exploration of future large-scale commercial deployment opportunities.