Arkema invests in sodium-ion battery startup Tiamat By

HostArmada - Affordable Cloud SSD Web Hosting

© Reuters.

COLOMBES, France – Arkema, a global player in specialty materials, has announced its investment in Tiamat, a startup specializing in sodium-ion battery technology. This move marks a strategic step for Arkema to expand its role in the battery materials sector, complementing its existing advanced materials portfolio.

Tiamat, established in 2017 and a spin-off from France’s CNRS (Centre National de la Recherche Scientifique), focuses on the development and commercialization of sodium-ion batteries, an alternative to lithium-ion batteries. The technology offers a solution to the supply constraints of lithium, a critical metal in the production of most current battery technologies.

The French chemical company joined other strategic investors, including Stellantis (NYSE:) Ventures and MBDA, in Tiamat’s recent €22 million funding round. The investment will support Tiamat’s ambition to construct a 5 GWh Giga-factory in France dedicated to sodium-ion battery cell production. The first phase of the factory, with a capacity of 0.7 GWh, is expected to be operational by the end of 2025. The project could potentially create a thousand jobs.

Arkema’s Chief Technology Officer, Armand AJDARI, commented on the investment, stating that the sodium-ion technology aligns with the company’s strategy to innovate for a sustainable world. He emphasized that Arkema’s portfolio of advanced materials is well-suited to support a range of battery technologies.

This investment is consistent with Arkema’s broader ambition to become a pure player in Specialty Materials by 2024. The company’s three main segments – Adhesive Solutions, Advanced Materials, and Coating Solutions – made up about 91% of its sales in 2022. Arkema reported sales of approximately €11.5 billion last year and employs over 21,000 staff across 55 countries.

The information regarding Arkema’s investment in Tiamat is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

HostArmada - Affordable Cloud SSD Web Hosting

Source link

About the Author

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these