Stellantis Ventures is investing in California’s Lyten B cycle and its advanced lithium-sulphur batteries for electric vehicles.

Stellantis Ventures is investing in California’s Lyten B cycle and its advanced lithium-sulphur batteries for electric vehicles.

and Sergio Governale

Stellantis Partnershipventure capital fund launched by the group Stellantis last year (see other articles and BeBeez), invested in Californian litenfounded in 2015, pioneers in lithium-sulfur batteries for electric vehicles and in three-dimensional graphene, which has shown a reduction in greenhouse gas emissions and can expect a transition to sustainable mobility also thanks to lightweight composite materials and new systems of feel on board. (see here is the press release)

L’the amount paid was not disclosedbut it refers to what is defined as a “significant” part of the “oversubscribed” investment cycle, which is greater than A since. 160 million dollars starting at the end of 2021, explained the founder and CEO of the California company, Dan Cook for DetroitNews. American private equity also appears among its fourteen lenders Catalus Capital Managementa large industrial company Honeywellaccelerator National Science Foundation Innovation Corps Programcapital funds Prime Movers Lab, The capital of Doorga And AiiM Partnersthis developer of protective cases Pelican ProductsItalian racing car manufacturer Dallas and US Department of Homeland Security. Before round B, the total resources collected reached 209.5 million dollars.

According to what was published on the website of litenwhich refers to the article in which it appeared Green Car Reportsa Silicon Valley company will be on its way to “achieving the lowest electric car battery on the global market”, called LytCell, which has more than twice the energy density and extended autonomy compared to traditional batteries and whose production will start at the end of the year with a target of 200,000 cells per year at a 13,000 square meter site in San Jose and will be fully operational . operating between 2025 and 2026. To achieve this goal, Lyten intends to expand its production by opening another factory.

The company’s technology unlocks the potential of sulfur by preventing the so-called polysulfide shuttle effect, a problem that causes cells to deteriorate prematurely and has so far prevented their use in electric vehicles. Also, unlike traditional lithium-ion batteries, lithium-sulfur batteries do not use nickel, cobalt (expensive and scarcely available materials), or manganese, resulting in an estimated carbon footprint that is more than 60% lower than batteries of lithium-ion. 40% compared to those of the government. These batteries use three-dimensional graphene made from methane, “tunable” to improve vehicle performance and for carbon removal. “Unlike two-dimensional forms of graphene, the production of our 3D-readable graphene has been independently verified and found to be zero-emission on a large scale. We are converting greenhouse gases into a new type of high-value, high-performance carbon material. up and integrate these processed materials into applications that will eliminate the most problematic sectors of the planet,” such as automobiles and, more generally, transportation, Cook is assured.

The advantages of lithium-sulfur batteries do not end there. In fact, raw materials are also found in North America and Europe and their production can take place in the same areas, avoiding possible disruptions in supply chains. distribute issues of unfriendly mining practices related to Nickel-Manganese-Cobalt Oxide, while allowing automakers to benefit from increased US and European policy incentives, such as those outlined in the Anti-Inflation Act, thereby promoting global transition to large electric vehicles.

“We are delighted that Stellantis Ventures, the venture capital investment arm of the global automotive innovator, has shown great confidence in our leading carbon removal material. Among the automotive product innovations that will be revolutionized by our three-dimensional graphene are batteries lithium-sulfur batteries, which are capable of delivering more than twice the energy density of lithium-ion batteries, lightweight composite materials for vehicles that will increase charging and new sensing methods that do not require chips, batteries or wires. We are committed to providing every one of these applications for Stellantis and the automotive market,” added Cook.

In addition to lithium-sulfur batteries, which can be used in the automotive, aerospace and defense markets, Lyten produces a next-generation polymer composition material called LytR, which can reduce the amount of plastic used to half while maintaining strength and reducing. with a carbon footprint of 55%, and sensor systems that increase the sensitivity and selectivity of sensors for automotive, industrial, health and safety applications.

“After visiting Lyten recently with our CTO Ned Curic and to our principal at Stellantis Ventures Adam Bazih, we were impressed by the potential of this technology to contribute to clean, safe and affordable mobility. Lyten’s material platform represents a significant investment for Stellantis Ventures. In particular, Lyten’s lithium-sulfur batteries have the potential to be a key component in driving mass market EV adoption worldwide. Likewise, their material technology can help reduce the weight of vehicles, which our industry will need to achieve in order to reach our net-zero carbon goals,” commented the CEO of Stellantis. Carlos Tavares.

Stellantis Ventures was formed over a year ago with an initial investment of 300 million euros and is committed to funding early and late-stage startups creating innovative and sustainable technologies for the automotive and mobility sectors. The capital fund is an important element of the automotive group’s corporate strategic plan name Roll Forward 2030which among its priority goals is to rapidly reduce CO2 emissions and reduce them by 50% by 2030 compared to 2021, bynet zero emissions by 2038 by a single digit percentage to offset the remaining production.

This Lyten investment is the tenth investment made so far by Stellantis Ventures, which focused on the beginning of the year. another 150 million dollars above the California standard Archermanufacturer of electric flying taxi christened eVTOL Midnight (see other articles and BeBeez), following a business combination with Spac Atlas Crest Investment Corp which Stellantis has already been his partner since then together Exor and to other international investors (see other articles and BeBeez)

Towards the end of February it then participated in a round of funding from 21 million dollars of the American company Electra Cars was founded in 2015 by Italy Fabrizio Martiniwhich provides AI software solutions for electric vehicles, all sides led by T-UV Growth Primer managed by Milanese United Ventures sgr (see other articles and BeBeez)

The brands are owned by Stellantis Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.