German sulfur battery firm theion raises $16M in Series A funding
Sulfur batteries tend to corrode quickly and end up expanding and destroying battery packs. theion says it uses crystalline sulfur to tackle these problems.
German sulfur battery firm theion has raised 15 million euros (about USD 16.4 million) in a Series A funding round to scale up battery cells that store more energy but are reportedly much more economical compared with conventional lithium-ion batteries.
The round was led by Team Global, the Geschwister Oetker Beteiligungen group and renewables firm Enpal.
The German startup says its crystalline batteries have three times the energy density of conventional lithium-ion batteries, but emit a third of the carbon dioxide and cost only a third as much, according to a Reuters report.
“There is still a way to go but our technology shall enable CO2-neutral electric flights, extended EV range, and efficient stationary energy storage,” Ulrich Ehmes, CEO of theion, said.
“We are under observation of car companies, stationary storage companies, companies in the electric aerospace sector,” Ehmes told Reuters. “Everyone is now waiting for our first pouch cells because with the coin cell you cannot fly an aircraft.”
Sulfur batteries tend to corrode quickly and end up expanding and destroying battery packs. Ehmes says theion uses crystalline sulfur to tackle these problems.
“I am in no doubt that crystal battery technology can revolutionize mobility and stationary energy storage, and theion is in the vanguard of this tech revolution,” Lukasz Gadowski, CEO and founder of Team Global, said. “theion will help the world achieve new levels of safe, sustainable and cost-effective electrification. Not only can this cell chemistry slash costs for the automotive and mobility sectors, but it should also be a true enabler and catalyst for electrified aviation.”