Currently at TRL 4, Rivus aims to reach TRL 6 or 7 by Q4 2024 with its upcoming pilots, coinciding with a planned investment round targeting to raise €3-6M. The company is focused on innovating a single component with an outsized impact: a proprietary water-based organic electrolyte (energy carrier) for flow batteries that reduces total system costs by 35-50% and cuts the levelized cost of storage by 85% for 4-24h storage, integrating seamlessly with existing flow battery hardware.