Raw: [
Battery technology startup Tiamat announced that it has raised €22 million, with proceeds aimed at […]]
Energy Storage Startup Tiamat Raises €22 Million for Lithium-free Battery Tech, Backed by Stellantis, Arkema, MBDA – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Energy Transition/ Private Equity & Venture Capital
Energy Storage Startup Tiamat Raises €22 Million for Lithium-free Battery Tech, Backed by Stellantis, Arkema, MBDA
Mark Segal
January 15, 2024
Battery technology startup Tiamat announced that it has raised €22 million, with proceeds aimed at developing and commercializing its lithium-free sodium-ion battery technology.
Established as a spin-off from France’s Centre National de la Recherche Scientifique (CNRS) in 2017, Tiamat designs, develops and produces solutions for energy storage applications. The company’s sodium-ion technology offers strong properties for power applications, including fast charging, durability, high power density and safety, as well as low cost per kilowatt-hour. The technology, based on abundantly available sodium, is also free of lithium and cobalt, helping to address key sustainability and supply chain constraint challenges facing the battery sector.
The funding round added several new strategic investors, including automotive giant Stellantis, through its corporate venture fund Stellantis Ventures, materials science company Arkema, and defense equipment company MBDA.
Ned Curic, Stellantis Chief Engineering and Technology Officer, said:
“Exploring new options for more sustainable and affordable batteries that use widely available raw materials is a key part of our ambitions of the Dare Forward 2030 strategic plan that will see us reach carbon net zero by 2038. Our customers are asking for emissions-free vehicles that offer a combination of robust driving range, performance and affordability. This is our North Star, as Stellantis and its partners work today to develop ground-breaking technologies for the future.”
Alongside support from the French government and the EU, proceeds from the financing round will be used by the company for a new 5 GWh sodium-ion battery cell Giga-factory in France, initially focused on power tools and stationary storage applications, and targeting scaling up production of second-generation products for battery electric vehicle (BEV) applications. Operational capacity at the plant could reach 0.7 GWh by the end of 2025, according to Arkema.
Armand Ajdari, Chief Technology Officer at Arkema, said:
“Our portfolio of advanced materials enables us to provide solutions for all our customers’ battery technologies. The sodium-ion technology developed by Tiamat is very interesting, as it will enable to do away with the dependence to lithium and several strategic metals. This operation enriches our ecosystem, and is perfectly in line with Arkema’s strategy: innovative materials for a sustainable world.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Energy Transition /
Barclays Launches New Energy Transition-Focused Investment Banking Team
Private Equity & Venture Capital /
Natixis’ Private Markets Unit Flexstone Appoints Samira Boussem as Head of Sustainability
Energy Transition /
Renewable Energy Growth Jumps by 50% in 2023, On Track to Overtake Coal Next Year: IEA
‹ Fidelity International to Focus Sustainable Investing Efforts on Key Themes Including Nature Loss, Climate, Governance, Social Disparities
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Barclays Launches New Energy Transition-Focused Investment Banking Team
Iberdrola Secures €300 Million ESG-Linked Loan from World Bank for Energy Transition Projects in Emerging Markets
ABN AMRO Appoints Tanja Kramer as Head of Sustainable Impact Fund
Pattern Energy Closes $11 Billion Financing for Massive U.S. Clean Energy Project
Government
Australia Proposes New Law Requiring Mandatory Climate Reporting for Companies
Former UK Conservative Energy Minister Resigns over Government Plan for New North Sea Oil & Gas Licenses
Canada Consults on Launch of New Federal Plastic Registry
Canada Finalizes Regulation Requiring 100% Zero Emission New Car Vehicle Sales by 2035
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy