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Energy Storage

Tiamat raises $24 million for sodium-ion batteries

by Matt Blois
January 19, 2024 | A version of this story appeared in Volume 102, Issue 2
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The start-up Tiamat has raised $24 million to commercialize sodium-ion batteries. Investors include the chemical firm Arkema and the carmaker Stellantis. The raw materials for sodium-ion batteries are cheaper than those for lithium-ion batteries but also store less energy. Tiamat hopes to have 0.7 GW h of battery production by 2025 and eventually scale up to 5 GW h at a facility in France. Tiamat will first make batteries for power tools and stationary storage systems and then move into electric vehicles.

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