France

[Funding alert] France-based Tiamat’s Secures Investment

Jan 13, 2024 | By Startup Rise EU

France-based Tiamat's Secures Investment. Sodium-ion technology is free of cobalt and lithium and has a lower cost per kilowatt-hour. The benefits of abundant salt availability include improved sustainability and material sovereignty.

France-based Tiamat's Secures Investment. Sodium-ion technology is free of cobalt and lithium and has a lower cost per kilowatt-hour. The benefits of abundant salt availability include improved sustainability and material sovereignty.

It was one of the eleven outstanding technology startups recognised in 2023 with a Stellantis Ventures Award. It is the first firm in the world to have recently introduced an electrified product using sodium-ion technology for commercial use.

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Ned Curic, Stellantis Chief Engineering and Technology Officer: “Our customers are asking for emissions-free vehicles with a 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.”

Stellantis is funding the development of alternative energy storage technologies, such as sodium-ion with Tiamat, solid-state batteries with Factorial Energy, and lithium-sulfur chemistry with Lyten Inc.

Read also - London-based shaka Secures €1 Million in Seed Funding

With the help of Stellantis Ventures and other investors, Tiamat will use the funds raised from the financing round to begin building a sodium-ion battery factory in France for use in power tools and stationary storage applications.

About Tiamat's

Innovative solutions for energy storage applications are designed, developed, and produced by TIAMAT Energy, a start-up. Tiamat 18650 cells' Na-ion technology offers exceptional advantages for power applications, quick charging, and longer cycle life.

Read also - Spanish Mobility Company Cabify was Secures €15 Million loan from BBVA Spark

In the upcoming years, Tiamat hopes to further its technology and validate its prototypes in association with numerous industry partners and end users.

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