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:STLA) 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.
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