Arkema Acquires a Stake in Tiamat and Accelerates in Next Generation Batteries

COLOMBES, France--(BUSINESS WIRE)--Regulatory News:

Arkema (Paris:AI) becomes a shareholder of the start-up Tiamat, spun off from the CNRS (Centre National de la Recherche Scientifique) in 2017 and a pioneer in sodium-ion battery technology. This investment will enable the Group to accelerate the development of technical solutions adapted to these batteries, which do not use lithium. The Group is once again demonstrating its willingness to be a key player in battery materials, offering a unique range of products adapted to all energy storage technologies.

Since 2017, the start-up Tiamat has been designing, developing, industrializing and marketing sodium-ion batteries, a new lithium-free technology enabling in particular to avoid the constraints associated with the supply of this metal.

Alongside strategic investors such as Stellantis Ventures and MBDA, Arkema contributed to Tiamat's recent €22 million fund-raising. Thanks to these funds and with the support of the French government and the European Union, Tiamat is aiming to build a 5 GWh Giga-factory in France, entirely dedicated to the production of sodium-ion battery cells. An initial tranche of 0.7 GWh could be operational by the end of 2025, and a thousand jobs could eventually be created.

"Our portfolio of advanced materials enables us to provide solutions for all our customers' battery technologies. The sodium-ion technology developed by Tiamat is very interesting, as it will enable to do away with the dependence to lithium and several strategic metals. This operation enriches our ecosystem, and is perfectly in line with Arkema's strategy: innovative materials for a sustainable world" comments Armand AJDARI, Arkema's Chief Technology Officer.

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Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials - Adhesive Solutions, Advanced Materials, and Coating Solutions - accounting for some 91% of Group sales in 2022, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around € 11.5 billion in 2022, and operates in some 55 countries with 21,100 employees worldwide.