I agree with Rowen and you have decided that a two cell will be best. The ESC does appear to be LiPo suitable but it does need to have the ability to protect the battery from over discharge and the specs on-line are rather lacking in this detail. Basically LiPos require protection from over charge or discharge to ensure safe operation. You will also need a LiPo balanced charger. Used correctly LiPos provide plenty of power for our models but you do need to follow the instructions for use to the letter to avoid any problems. I look forward to seeing some on-water pics, please.