Sodium-ion Battery Technology Gains Ground with Major Investment
Sodium-ion Battery technology, an emerging field that’s beginning to challenge the dominance of Lithium-ion, has recently seen a significant boost. Two European firms, Tiamat and Altris, have collectively secured an impressive investment worth €29 million.
Tiamat’s Fundraising Success and Expansion Plans
Tiamat Technologies, a pioneering force in sodium-ion tech, successfully raised €22 million in an investment round that drew key industry players. The company plans to establish a gigafactory with an initial production capacity of 700MWh by 2025, which could eventually scale up to 5GWh.
Altris’ Swedish Government Grant and Production Milestone
Altris, another frontrunner in sodium-ion batteries, received a substantial grant of 77 million SEK from the Swedish Energy Agency. The funds are earmarked for a pilot plant that will further its sodium-ion cell production capabilities, signaling strong government support for renewable technologies.
Enhanced Energy Density and Market Potential
Altris, in a joint endeavor with Northvolt, recently made strides in sodium-ion energy density, achieving 160Wh/Kg—making it attractive for energy storage systems. This innovation propels sodium-ion batteries closer to market competitiveness.
The potential of sodium-ion batteries in Electric Vehicle (EV) and Energy Storage System (ESS) markets cannot be understated; with advancements and economies of scale, they are poised to offer a viable alternative to Lithium-ion technologies.
Europe’s Role in the Battery Technology Race
As the sodium-ion narrative unfolds, market analysts highlight the technology’s promise for more sustainable and cost-effective solutions. Europe’s leading companies, such as Tiamat and Altris, are at the forefront of this technological evolution, working towards a future where sodium-ion becomes a cornerstone for both EV and ESS applications.
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