With the creation of a battery growth platform Solvay brings innovative solutions to the battery market
Brussels, November 18, 2021
Solvay Ventures, the venture capital fund of Solvay, invested in Sepion, a California-based start-up that specializes in developing batteries with Li-metal anodes and liquid electrolytes. The $16 million round was led by Fine Structure Ventures, and also includes other climate tech investors. The company raised funds to accelerate commercialization 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.
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.” said Mike Finelli, President of Growth Initiatives at Solvay.
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Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 23,000 employees in 64 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €9 billion in 2020. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at solvay.com
Solvay Ventures is the venture capital fund of Solvay. Solvay Ventures invests in breakthrough technologies in advanced materials, devices and business model innovation. Operating since 2005, Solvay Ventures is currently investing out of a €80 million global evergreen fund. Solvay Ventures targets early stage investment opportunities (Seed through Series B) with a focus on startups addressing better use of resources, energy transition, increased well-being, and digital age. Beyond capital, Solvay Ventures looks to leverage the resources at Solvay to help accelerate technology and market adoption
Sepion is an advanced materials company enabling safe, energy-dense, lithium-metal batteries for long-range and low-cost electric transportation. The company strives to deliver science-based solutions that create massive economic value while enabling measurable climate change mitigation. Learn more at sepiontechnologies.com
