Elestor B.V.

Elestor has introduced an innovative electricity storage technology for large scale stationary applications (LDES), based on the flow battery principle. With this, the electricity storage costs (LCoS) are reduced to an absolute minimum. Low cost, abundant active materials are used, combined with a patented system design and easy to manufacture and compact cells. This triple cost reduction strategy enables introduction of viable business cases, which are essential to stimulate the adoption of electricity storage and thus to accelerate the energy transition. The technology has the potential to replace fossil power plants at GWh scale (bi-directional power plants) and has all the properties to become the equivalent in large-scale long duration electricity storage of what Lithium ion is today for mobility. The essential difference of the Elestor technology with conventional batteries is that power (MW) and capacity (MWh) are uncoupled: The Elestor technology is 100% modular and virtually any desired power-capacity combination can be designed, enabling very cost-effective bridging of long periods during which hardly renewable electricity is generated. With a progressing dependency on intermittent energy sources (sun, wind), this property becomes increasingly distinctive, if not decisive, for the energy transition to succeed. Another unique feature is that the Elestor technology can be integrated in hydrogen infrastructures and electrolysers, resulting in a large reduction of green hydrogen production costs. In a competition entered by 600 companies, Elestor is named as one of the 10 most innovative companies in The Netherlands by the Amsterdam Centre for Business Innovation (University of Amsterdam). Fueled by a Series A investment of 30M€, in a round led by Equinor Ventures with also Vopak joining, as well as by agreements with clients strategically adopting its innovative storage technology, Elestor has embarked on an ultra-rapid growth path.