Investing
Arkema invests in sodium-ion battery startup Tiamat
© 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.
Read the full article here
-
Side Hustles7 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Investing7 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks
-
Make Money7 days ago
Here’s the Typical American’s Income at Every Age. How Do You Compare?
-
Investing7 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Passive Income5 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Side Hustles5 days ago
How Your Body Language Can Help Win a Disagreement
-
Side Hustles4 days ago
How to Be Unapologetically You and Why It Matters
-
Investing5 days ago
7 Marketing Strategies to Help Your Startup Grow and Scale