Long-duration, high efficiency modular flow battery made by VflowTech
Singapore,May 15th 2025 – VFlowTech Pte. Ltd., a Singapore-based leading innovator inlong-duration energy storage (LDES) technology, today announced the successful close of its Series A2 financing round. The round was led by Granite Asia, with participation from MOL PLUS, EDBI, PSA Ventures, Antares Ventures, and returning investors UntroD, Wavemaker Partners, Inci Holdings, SEEDS Capital, and Pappas Capital.
VFlowTech develops vanadium redox flow batteries (VRFB), a key technology for LDES. UntroD, which led VFlowTech’s Series A round in 2022, reaffirmed its commitment by joining the latest round.
MOL PLUS—the corporate venture arm of Mitsui O.S.K. Lines (MOL) and a strategic partner of UntroD—also came on board as a new investor. Additionally, Hokkoku Financial Holdings, another UntroD corporate partner, provided Southeast Asia’s first venture debt facility for an energy storage company, underscoring strong investor confidence in VFlowTech’s LDES solutions.
Since its founding in 2018, VFlowTech hasbeen advancing the energy transition across Southeast Asia, India, and beyond by developing and deploying LDES solutions for communities, industrial customers, and utility providers. In 2020, the company was a finalist in the Tech Planter Singapore program—hosted by Leave a Nest, UntroD’s sister organization—and joined the Global Innovation Alliance manufacturing program in 2022. UntroD's lead investment in the Series A round marked a key milestone in VFlowTech’s commercial scale-up.
"We’ve been impressed by VFlowTech’s remarkable achievements in advancing sustainable energy solutions.Their visionaligns with our commitment to fostering impactful technologies that address
global energy challenges." said Henry Tao, Director at UntroD Capital Asia.
Sakamoto (CEO of MOL PLUS) added, "We find two attractions in VFlowTech. The first is that their technology has the potential to be deployed in larger-scale facilities, such as port terminals. The second is their focus on Southeast Asia and India,which are also MOL's focus. We will continue to contribute in business collaboration."
As part of this collaboration, MOL PLUS, MOL (Asia Oceania) and VFlowTech signed a Memorandum of Understanding in October 2024 to explore the deployment of VRFB technology in the maritimindustry. This initiative aligns with MOL Group’s ambition to pioneer carbon-neutral port solutions, reinforcing its sustainability agenda.
Signing ceremony
Alvin Seng (MOL Asia Oceania),Hideyuki Irisawa (MOL Asia Oceania Director),
Dr. Avishek Kumar (VFlowTech CEO & Co-Founder)
ExpandingFinancial Support through Venture Debt
In parallel, CC Innovation Singapore Pte.Ltd. (Managing Director: Michiaki Kawa; hereinafter “CCIS”), an LP and corporate partner of UntroD, has provided venture debt to VFlowTech, marking its inaugural venture debt deployment in Southeast Asia. Part of the Hokkoku Financial Holdings, CCIS is broadening the group's traditional banking services to actively support the startup ecosystem in Southeast Asia.
"We are thrilled to see Hokkoku Bank’s diversified capital solutions bolster VFlowTech’s working capital
needs," said Kawa-san. "This collaboration underscores the growing role of innovative financial instruments in advancing sustainable development across Southeast Asia."
UntroD, MOL Group, and Hokkoku Bank areunited in their shared mission to accelerate the transition to a net-zero future. These strategic investments and partnerships solidify VFlowTech’s position as a trailblazer in clean energy innovation and a critical enabler of the global energy transition.
AboutUntroD Capital Asia
UntroD Capital Asia is a leading deep-tech VC firmdedicated to fostering impactful technologies that drive sustainable growth. As
the manager of the Real Tech Global Fund, UntroD Capital Asia partners with
innovative startups and businesses addressing global challenges in sectors such
as energy transition, sustainable agri-food, and industrial manufacturing.
UntroD’s hands-on approach and industry network provide portfolio companies
with the resources and expertise needed to scale their operations and achieve
lasting impact.
AboutMOL and MOL PLUS
Mitsui O.S.K. Lines(MOL), headquartered in Tokyo, is a leading shipping company with the world’s
second-largest fleet of about 900 vessels and the largest LNG fleet globally. It is developing various social infrastructure businesses, technologies, and services centered on marine transport to meet the ever-changing needs of society, such as environmental protection. MOL’s fleet includes dry bulkers, LNG carriers, car carriers, container ships, and tankers. In addition to the traditional shipping business, it is also developing social infrastructure businesses such as container terminals, logistics, and offshore wind power, as well as wellbeing life businesses such as real property, cruises, and ferries.
MOL PLUS is a CorporateVenture Capital driving force for MOL. MOL PLUS invests in a wide range of
early- and middle-stage startup companies around the world, that have the potential to reform ocean shipping business models and create new businesses in the shipping industry from a medium to long-term perspective.
About Hokkoku Bank and CCI
Establishedin 1943, Hokkoku Bank is a regional financial institution headquartered in Kanazawa, Ishikawa Prefecture, Japan. The bank offers a comprehensive suite of services, including savings and current deposits, loans, domestic and international remittances, and trade financing solutions. With a robust
presence in the Hokuriku region and offices in major Japanese cities, Hokkoku Bank is committed to supporting local economiesand fostering sustainable development. CC Innovation, a subsidiary of Hokkoku
Financial Holdings, specializes in delivering innovative financial and consulting solutions, reinforcing their commitment to regional development and global business integration.
For more information:
MOL PLUS
Email: molplus@molgroup.com / Tel: +81-3-3587-7643
Website: https://en.molplus.net/