Stellantis Invests in Lyten’s Revolutionary Graphene-Based EV Batteries
(IN BRIEF) Stellantis, a global automaker, has made an investment in Lyten, a Silicon Valley-based company known for its innovative 3D Graphene technology. The investment aims to accelerate the development and commercialization of Lyten’s breakthrough Lithium-Sulfur EV battery technology, lightweighting composites, and advanced vehicle sensing solutions. Lyten’s Lithium-Sulfur batteries offer more than double the energy density of traditional lithium-ion batteries and have a significantly lower carbon footprint. The investment aligns with Stellantis’ commitment to exploring various battery technologies to meet the diverse needs of its customers and achieve clean, safe, and affordable mobility.
(PRESS RELEASE) AMSTERDAM / SAN JOSE, California, 25-May-2023 — /EuropaWire/ — Stellantis N.V., (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) a renowned global automaker and mobility provider, and Lyten, Inc., a materials innovation and applications company, have announced a strategic investment by Stellantis Ventures, the corporate venture fund of Stellantis, in Lyten. This investment aims to accelerate the commercialization of Lyten’s breakthrough 3D Graphene™ applications for the mobility industry, including the LytCell™ Lithium-Sulfur EV battery, lightweighting composites, and innovative on-board sensing solutions. Lyten, a Silicon Valley-based company and pioneer of three-dimensional (3D) Graphene, plans to leverage the unique tunability of its material to enhance vehicle performance, improve customer experience, and contribute to decarbonizing the transportation sector.
Lyten’s tunable materials platform has already demonstrated significant reductions in greenhouse gas emissions and holds great promise for advancing the transition to sustainable mobility.
Unlike traditional lithium-ion batteries, Lyten’s Lithium-Sulfur batteries do not utilize nickel, cobalt, or manganese. As a result, they offer an estimated 60% lower carbon footprint compared to today’s leading batteries and provide a pathway towards the development of the lowest emissions EV battery on the global market. Moreover, the raw materials for Lithium-Sulfur batteries have the potential to be sourced and produced locally, in North America or Europe, thereby enhancing regional supply sovereignty. This technology will address the growing demand for lightweight and energy-dense batteries that are resilient to supply chain disruptions.
Stellantis established Stellantis Ventures in 2022 as a venture capital fund committed to investing in early and later-stage startup companies that develop innovative and sustainable technologies within the automotive and mobility sectors. With an initial funding of €300 million, Stellantis Ventures plays a key role in the company’s Dare Forward 2030 strategic plan. This plan outlines Stellantis’ core targets, including deep cuts in CO2 emissions by 2030, benchmarking against 2021 metrics, and achieving carbon neutrality by 2038 with single-digit percentage compensation for the remaining emissions.
Dan Cook, president and CEO of Lyten, expressed delight in Stellantis Ventures’ strong belief in their company and Lyten’s Lyten 3D Graphene™ decarbonizing supermaterials. Cook highlighted the transformative potential of Lyten 3D Graphene™ in various automotive product innovations, such as Lithium-Sulfur batteries with over twice the energy density of lithium-ion batteries, lightweighted vehicle composites that improve payload capacity, and novel sensing modes that eliminate the need for chips, batteries, or wires. Cook affirmed their commitment to advancing these applications for the benefit of Stellantis and the automotive market.
Cook further emphasized that unlike two-dimensional forms of graphene, Lyten’s tunable Lyten 3D Graphene™ has been independently verified to be carbon neutral at scale. By converting greenhouse gases into high-performance carbon materials, Lyten is revolutionizing the decarbonization efforts in sectors that are hardest to abate.
Carlos Tavares, Stellantis CEO, expressed enthusiasm for the potential of Lyten’s technology to drive clean, safe, and affordable mobility. Tavares recognized Lyten’s materials platform as a key investment for Stellantis Ventures, aligning with the Dare Forward 2030 goal of accelerating the deployment of innovative, customer-centric technologies. Specifically, Lyten’s Lithium-Sulfur battery holds the potential to become a crucial component in enabling mass-market adoption of electric vehicles globally. Additionally, Lyten’s material technology has the potential to help reduce vehicle weight, a vital aspect in achieving the industry’s carbon neutrality goals.
Given the critical shortage of traditional lithium-ion battery materials for EV manufacturing, Lyten’s Lithium-Sulfur battery offers an alternative, non-nickel-manganese-cobalt cathode solution that supports the global transition to electric vehicles on a mass scale. Lyten aims to provide its customers with a secure supply of performance-based and environmentally sustainable products. Furthermore, it enables auto manufacturers to leverage growing U.S. and European policy incentives, including those mentioned in the Inflation Reduction Act.
Lyten’s Lithium-Sulfur battery, composites, and sensor technologies are currently being produced at its 145,000 square foot campus in Silicon Valley. In addition to manufacturing EV batteries, Lyten plans to deliver Lithium-Sulfur batteries and 3D Graphene-infused composites for specialty markets in collaboration with its existing customers starting in 2023. Lyten is also working with its strategic investors from various industries to apply Lyten 3D Graphene materials to decarbonize other carbon-intensive sectors beyond transportation, with more announcements planned for later this year.
About Lyten 3D Graphene™:
Lyten 3D Graphene™ is Lyten’s proprietary and tunable decarbonization supermaterial, engineered from natural gas. While sharing valuable properties with two-dimensional graphene, Lyten’s 3D Graphene possesses orders of magnitude higher chemical and electrical reactivity due to its three-dimensional morphology. The production processes and equipment for engineering three-dimensional graphene materials are protected by Lyten’s patents. The company plans to scale up its initial output from its San Jose, California facility and explore locations for a second phase of output capacity.
About LytCell EV™ Lithium-Sulfur Battery:
LytCell™ is Lyten’s proprietary Lithium-Sulfur battery that incorporates Lyten 3D Graphene™ to address the challenges associated with sulfur and the polysulfide shuttle effect. This results in a higher-performance battery with over twice the energy density and extended driving range compared to conventional EV batteries. Notably, LytCell™ does not rely on expensive and scarce nickel or cobalt, and it is expected to have a carbon footprint over 60% lower than the best-in-class lithium-ion batteries and over 40% lower than solid-state batteries. The LytCell battery will be domestically and sustainably sourced, reducing supply chain risks and minimizing environmentally unsound mining issues associated with nickel-manganese-cobalt oxide (NMC) materials.
About LytR™:
LytR™ is Lyten’s unique thermoplastic formulation infused with Lyten 3D Graphene™. LytR™ reduces the weight and materials required by up to half while maintaining or improving strength and performance. By tuning Lyten 3D Graphene™ for dispersion into polyethylene, LytR™ significantly enhances the chemical and physical properties of thermoplastics, resulting in a reduced carbon footprint of up to 55%.
About Lyten:
Lyten is a materials innovation and applications company that pioneered the Lyten 3D Graphene™ materials platform. Lyten’s decarbonization supermaterials are being fine-tuned for various applications, including next-generation Lithium-Sulfur batteries for automotive, aerospace, defense, and other markets. Additionally, Lyten is developing the next-generation LytR™ polymer composite that reduces plastic usage by up to half while maintaining structural integrity and impact resistance. Furthermore, Lyten is working on next-generation sensor arrays that enhance detection sensitivity and selectivity for automotive, industrial, health, and safety applications. The company is led by experienced executives from the automotive, energy, batteries, semiconductors, manufacturing, and defense sectors, and holds more than 300 patent matters. Lyten currently manufactures Lyten 3D Graphene material and LytCell™ EV batteries in San Jose, California. Lyten was founded in 2015.
About Stellantis Ventures:
Stellantis Ventures is the first corporate venture fund of Stellantis, established with an initial investment of €300 million. It focuses on early and later-stage startup companies developing cutting-edge technologies for the automotive and mobility sectors, with a goal of improving outcomes for individual customers and society as a whole. Stellantis Ventures has a dual mandate that requires portfolio companies to demonstrate sustainable growth prospects and a high potential for technological adoption within Stellantis’ products and operations. Backed by one of the world’s leading automakers and mobility providers, Stellantis Ventures is uniquely positioned to drive value quickly and effectively for its portfolio members.
About Stellantis:
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a renowned global automaker and mobility provider. The company’s iconic brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys, represent the passion of visionary founders and today’s customers through innovative products and services. Stellantis leads the way in the world of mobility, aspiring to become the greatest sustainable mobility tech company rather than the largest, while creating added value for all stakeholders and the communities it operates in. For more information, visit www.stellantis.com.
Media contacts:
Fernão SILVEIRA+31 6 43 25 43 41fernao.silveira@stellantis.com
SOURCE: Stellantis
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