Arkema invests in sodium-ion battery startup Tiamat By Investing.com

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COLOMBES, France – Arkema, a world participant in specialty supplies, has introduced its funding in Tiamat, a startup specializing in sodium-ion battery know-how. This transfer marks a strategic step for Arkema to increase its function within the battery supplies sector, complementing its present superior supplies portfolio.

Tiamat, established in 2017 and a spin-off from France’s CNRS (Centre Nationwide de la Recherche Scientifique), focuses on the event and commercialization of sodium-ion batteries, an alternative choice to lithium-ion batteries. The know-how gives an answer to the availability constraints of lithium, a important steel within the manufacturing of most present battery applied sciences.

The French chemical firm joined different strategic buyers, together with Stellantis (NYSE:) Ventures and MBDA, in Tiamat’s latest €22 million funding spherical. The funding will help Tiamat’s ambition to assemble a 5 GWh Giga-factory in France devoted to sodium-ion battery cell manufacturing. The primary section of the manufacturing facility, with a capability of 0.7 GWh, is predicted to be operational by the tip of 2025. The venture might doubtlessly create a thousand jobs.

Arkema’s Chief Expertise Officer, Armand AJDARI, commented on the funding, stating that the sodium-ion know-how aligns with the corporate’s technique to innovate for a sustainable world. He emphasised that Arkema’s portfolio of superior supplies is well-suited to help a variety of battery applied sciences.

This funding is per Arkema’s broader ambition to turn into a pure participant in Specialty Supplies by 2024. The corporate’s three most important segments – Adhesive Options, Superior Supplies, and Coating Options – made up about 91% of its gross sales in 2022. Arkema reported gross sales of roughly €11.5 billion final 12 months and employs over 21,000 employees throughout 55 international locations.

The data relating to Arkema’s funding in Tiamat is predicated on a press launch assertion.

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