Strategy & Finance Associate

XL Batteries•Boston, MA

12d•Hybrid

About The Position

Do you want to help build the world’s energy future? XL Batteries is an American energy technology company commercializing a next-generation, non-lithium / non-critical minerals energy storage system designed for data centers, utilities, and industrial customers. Our technology enables safe, low-cost, flexible duration energy storage that supports grid resilience and the rapidly growing power demands of AI, data centers, and electrification. XL is at an exciting inflection point – transitioning from pilots to first commercial deployments – and we are growing our high impact commercial team in our newly opened Boston office. Our work has been featured in publications including Bloomberg, the Financial Times, Utility Dive, Energy Storage News, Latitude, and others. The Business Development and Strategy team at XL Batteries is seeking a Strategy & Finance Associate to support XL’s commercial, financial, and go-to-market efforts. You will work directly with the VP of Strategy & Business Development and act as the analytical backbone supporting: Customer proposals and pricing Capital raising and investor communications Financial and cost modeling Commercial analytics, CRM, and market intelligence This role is ideal for someone with strong financial training who enjoys operating at the intersection of finance, strategy, technology, and commercial execution in a fast-moving startup environment.

Requirements

2-5 years of experience in investment banking, management consulting, energy or infrastructure investing, energy / power markets, or related roles
Understanding of U.S. power market fundamentals and dynamics
Advanced Excel and PowerPoint skills; comfortable building financial models from scratch
Passionate about energy, infrastructure, climate tech, or complex technical products
Analytical, detail oriented, and intellectually curious
Comfortable operating in an entrepreneurial, fast-paced environment; bias toward action and problem-solving

Responsibilities

Build, maintain, and iterate on 3-statement financial models and scenario analyses for current and future investors
Develop project-level economics (pricing, margins, IRR, levelized costs, tolling structures) to support customer proposals for commercial deployments
Partner with engineering and operations to build and refine system-level cost models
Create customer-facing materials including ROI analyses and economic comparisons
Support RFP / RFI responses and customer diligence requests
Prepare investor decks and maintain diligence and data room materials
Manage CRM, pipeline analytics, and target account lists
Track competitors, markets, and comparable projects
Help standardize commercial tools, templates, and reporting