Stellantis Ventures, the corporate venture fund of Stellantis, has invested in Lyten to accelerate the commercialisation of Lyten 3D Graphene applications for the mobility industry, including the LytCell lithium-sulfur EV battery, lightweight composites and novel on-board sensing.
Unlike traditional lithium-ion batteries, these lithium-sulfur batteries do not use nickel, cobalt or manganese, resulting in an estimated 60% lower carbon footprint. Raw materials for lithium-sulfur batteries have the potential to be sourced and produced locally in North America or Europe.
Stellantis Ventures, powered by an initial €300 million in funding, is a key component of the company’s Dare Forward 2030 strategic plan, which sets out core targets for it, including deep emission cuts to slash carbon dioxide in half by 2030, benchmarking the 2021 metrics, and achieving carbon net zero by 2038 with single-digit percentage compensation of the remaining emissions.
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Dan Cook, President and CEO, Lyten, said, “Unlike two-dimensional forms of graphene, our tunable Lyten 3D Graphene production has been independently verified to be carbon neutral at scale. We are converting greenhouse gases into a new class of high-performance, high-value carbon materials and are incorporating these tuned materials into applications that will decarbonise the hardest to abate sectors on the planet.”
According to Carlos Tavares, CEO, Stellantis, Lyten’s materials platform is a key investment for Stellantis Ventures.
He said, “Having recently visited Lyten together with our CTO Ned Curic and our head of Stellantis Ventures Adam Bazih, we walked away impressed by the potential of this technology to help drive clean, safe and affordable mobility.”