Patented Organic Chemistry Powers Next Generation of Long-Duration Energy Storage

XL Batteries, an energy storage company creating a revolutionary safe, low-cost, and reliable grid-scale battery, today announced the successful commissioning of its first fully integrated, commercial Organic Flow Battery™. In partnership with Stolthaven Terminals, a leading global provider of storage services for bulk liquids and gases, this paid pilot is the first deployment of XL's innovative long-duration energy storage (LDES) technology and confirms its commercial viability.

As the urgency for U.S. energy security grows, the limitations of current energy sources are becoming increasingly evident. Cost-effective, safe LDES solutions are essential for grid-scale energy resilience, but existing battery technologies are expensive, geographically limited, or hindered by safety concerns and dependence on toxic and rare materials.

XL Batteries' groundbreaking Organic Flow Battery technology is the first solution to effectively address these critical barriers. By combining a patented organic electrolyte molecule with proven flow battery architecture, XL Batteries' solution is flexible and scalable to serve the complex needs of utilities, IPPs, and industrial users. The partnership with Stolthaven Terminals demonstrates the efficiency, duration, safety, reliability, and low-cost profile of the Organic Flow Battery technology in real-world conditions, providing valuable data for future commercial deployments.

"This commissioning of our safe, low-cost, and reliable grid-scale battery represents a pivotal milestone - not only for our company but for the entire industry," said Tom Sisto, CEO and co-founder of XL Batteries. "We're proud to demonstrate a scalable LDES solution that will support Stolthaven Terminal's operational efforts for the next 20 years while advancing American energy resilience."

For Stolthaven Terminals, this project - which is based at its facility in Houston - is expected to generate financial and operational benefits, including the potential to provide energy storage near its facilities and shore power to ships calling at its terminals in the future.

Guy Bessant, President of Stolthaven Terminals, said: "The installation of the first-ever industrial scale Organic Flow Battery™ at our Houston terminal is an exciting milestone in our sustainability journey and that of our industry. Long-term energy storage solutions are critical for the global energy transition. XL Batteries shares our vision to use innovation, knowledge sharing and collaboration to develop energy solutions for the future, and this is a true success story of how strategic partnerships and cutting-edge technology can future-proof industrial operations. We are pleased to partner with XL Batteries on this innovative project."

The successful commissioning of this project provides XL Batteries with real-world data to inform the final design decisions needed to scale its commercial product - giving the company a low-cost, direct path to large-scale commercial viability. To learn more about XL Batteries, please visit www.xlbatteries.com.

About XL Batteries
Founded in 2019 by the scientists who discovered our revolutionary, patented chemistry at Columbia University, XL Batteries aims to provide the energy industry with a low-cost, grid-scale Organic Flow Battery that will provide utility-scale energy storage with high efficiency and flexible duration. This revolutionary technology combines proven flow battery architecture with our patented, proprietary electrolyte chemistry to create the lowest cost, safest, and most reliable long-duration energy storage solution for grid operators, independent power producers, microgrids, and heavy industrial users. To learn more, please visit www.xlbatteries.com.

About Stolthaven Terminals
With a global network of 14 owned and joint-venture terminals, Stolthaven Terminals provides five million cbm of storage and distribution services for bulk liquids including chemicals, clean petroleum products, liquified petroleum gases, vegetable oils, biofuels and oleochemicals. Stolthaven Terminals' mission is to deliver value to its customers through operating state-of-the-art terminals which complement the capabilities of its sister companies, Stolt Tankers and Stolt Tank Containers, ensuring an efficient ship-to-shore interface and facilitating agile and competitive supply chains, all within an environment of assured quality, safety and environmental protection.