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Stellantis backs €22m round for Tiamat sodium ion batteries

Stellantis backs €22m round for Tiamat sodium ion batteries

Business news |
By Nick Flaherty



Stellantis Ventures is a strategic investor in Tiamat in France for sodium ion battery technology as part of a €22m funding round.

The €22m funding from global car and truck maker Stellantis will be used to build a factory for sodium ion batteries with a capacity of 5GWh. The initial capacity of 750MWh is expected in 2025.

This comes as Acculon Energy in the US and Altris in Sweden both establish production lines for sodium ion batteries. There is also a push to solid state battery cells using sodium to avoid the need for lithium.

It also follows a €5m round in 2021 to start production. Missile maker MBDA joined Stellantis as a new investor, while existing investor Arkema joined the round alongside Finovam Gestion, SICAE de la Somme et du Cambraisis, Nord France Amorcage, CAP 3RI and Celeste Management.

Stellantis is also investing in the development of alternative technologies for energy storage, including solid-state batteries with Factorial Energy and lithium-sulfur chemistry with Lyten as well as the sodium-ion plans with Tiamat.

Tiamat is a spin-off of the French National Centre for Scientific Research (CNRS) and is using the funding to build a sodium-ion battery plant in France for power tools and stationary storage applications first, and then targeting to scale-up production of second-generation products for BEV applications. It has already reaised

Stellantis is securing approximately 400 GWh of battery capacity to meet its battery electric vehicles, based on lithium battery technologies. It has secured supplies of EV raw materials through 2027 by signing key agreements around the world.

“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,” said Ned Curic, Stellantis Chief Engineering and Technology Officer. “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.”

Tiamat was one of 11 top-performing technology start-ups to receive a Stellantis Ventures Award in 2023, and Stellantis says it is the first company in the world to have commercialized a sodium-ion technology in an electrified product.

Stellantis Ventures was established with an initial investment of €300 million as a corporate venture fund for early and later-stage startup companies in the automotive and mobility sectors.

www.tiamat-energy.com; www.stellantis.com

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