French battery developer Tiamat has completed the first phase of its third round of financing. The CNRS research center spin-off plans to build a sodium-ion battery factory in France. Stellantis Ventures, Arkema, MBDA, historical investors and Bpifrance participated in the financing, which raised a total of 30 million euros. Further financing of a similar amount is planned, bringing the total investment to around 150 million euros.
Plant to peak at five gigawatt-hours
The sodium-ion battery factory is expected to have an annual capacity of five gigawatt-hours. In the first phase, a capacity of 0.7 gigawatt-hours is targeted by the end of 2025. The plant will be built in Hauts-de-France and is expected to create more than 1,000 jobs. Before expanding to electric vehicle applications, the plant will initially focus on power tools and stationary storage applications. Tiamat plans to commercialize the first sodium-ion battery technology for electric appliances and has already received orders.
Stellantis invests in energy storage technologies
Stellantis Ventures, the corporate venture fund of Stellantis N.V., has joined Tiamat as a strategic investor to participate in the sodium-ion battery technology. The company’s goal is to achieve net-zero CO2 emissions by the year of 2038. To this end, Stellantis is securing approximately 400 gigawatt-hours of battery capacity and investing in alternative energy storage technologies.
