Solvay Ventures, the venture capital fund of Solvay, has invested in Sepion, a California-based start-up that specialises in developing batteries with Li-metal anodes and liquid electrolytes.
The USD16 million round was led by Fine Structure Ventures, and also includes other climate tech investors. The company raised funds to accelerate commercialisation of lithium metal batteries for long-range and low-cost electric vehicles.
Li-metal batteries enable high energy density and are strongly sought-after solutions for the electric vehicles market. However, the growth of dendrites can cause the batteries to fail and prevents them from having long life cycles. Sepion’s technology, which is based on an innovative polymeric membrane, prevents the growth of dendrites.
“In addition to being a groundbreaking solution, Sepion’s technology can be readily adopted as it leverages the current Li-ion manufacturing infrastructure and liquid electrolytes. As a leader in Li-ion electrolyte additives, Solvay provides a complementary expertise to Sepion’s core technology,” says Nicolas Cudré-Mauroux, Solvay’s chief technology officer.
Solvay has long been a leader in providing innovative solutions to the battery market, and has accelerated this trend through the creation of a battery growth platform. The acceleration of electrification represents a significant opportunity to bring transformative technologies to the EV market.
“This is exactly the mission of our battery platform and by investing in Sepion’s technology, we are progressing in our journey to enable safer, more performing and more sustainable batteries,” says Mike Finelli, President of Growth Initiatives at Solvay.
