theion welcomes greentech unicorn Enpal as new investor

Greentech unicorn (a startup that has reached at least $1 billion in market value) Enpal has become a strategic investor into sulphur battery developer theion.
theion welcomes greentech unicorn Enpal as new investor
The theion team. Courtesy of theion.

theion’s technology is based on a platform strategy deploying sulphur as the cathode material which is cheap and abundantly available worldwide. For batteries addressing the mobility market, theion combines sulphur with lithium as anode material. For energy storage applications theion substitutes lithium with sodium, a component of ordinary salt.  theion has been recently awarded with a research project by the German Federal Agency for Disruptive Innovation (SPRIND) on sodium-sulphur based cell chemistries.

“For Enpal, this investment is crucial to secure early access to an innovative battery technology and shows our long-term commitment to theion” said Henning Rath, Chief Supply Chain Officer at Enpal, who will join the theion supervisory board. “The powerful and cost-efficient sulphur-based technology will provide a high-performance battery for stationary storage at stable input prices, and increases the independence of our supply chain. We are looking forward to partnering with theion and to shape the energy transition together.”

”We are excited to have Enpal as strategic investor on board” added Dr. Ulrich Ehmes, CEO of theion. “Our goal is to make stationary storage accessible for everyone, as combination of our technology and Enpal’s strong market access. The funding will be used to accelerate our product development and to gain market readiness. Henning will strengthen our Board around the former chairman of the Siemens supervisory board, Dr. Gerhard Cromme, and tech-entrepreneur Lukasz Gadowski, our main investor.”

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Tags: Storage
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