German battery technology startup theion announced that it has raised €15 million (USD$16.2 million) in a Series A funding round, with proceeds aimed at furthering development of lower-carbon footprint batteries that provide more power and energy storage than standard lithium-ion batteries.

Established in 2020, Berlin-based theion develops crystal batteries for mobile, portable and stationary applications. The company is utilizing sulfur, a widely available upcycled waste material, to develop a new type of battery for electric vehicles, aircraft, and energy storage. According to theion, the sulfur-based raw materials it uses are significantly cheaper than the materials used in conventional batteries, replacing nickel and cobalt, which are expensive and environmentally harmful to mine, with a widely available and cost-effective material. The company said that it is targeting batteries with one third of the cost, one-third of the carbon footprint, and three times the energy density of conventional lithium-ion batteries.

theion added that it is targeting strategic markets for its batteries, including electric aviation and aeropace, noting that the batteries’ lightweight and high energy density characteristics make them ideal for eVTOLs, fixed-wing aircraft, and satellites, as well as electric vehicles and stationary energy storage.

Dr. Ulrich Ehmes, CEO of theion, said:

“We are designing our crystal sulfur battery to position Europe as a leader in sustainable energy storage. There is still a way to go but our technology shall enable CO2-neutral electric flights, extended EV range, and efficient stationary energy storage.”

theion said that worldwide demand for batteries across all industries will triple by 2030, led by the vehicle sector. Batteries made from sulfur can help Europe, and especially Germany, play a leading role in the sector, powering the energy transition on land, air and sea, the company added.

The financing round was led by technology-focused investor Team Global, with participation from Geschwister Oetker Beteiligungen and Enpal.

Lukasz Gadowski, CEO and founder of Team Global, said:

“I am in no doubt that crystal battery technology can revolutionize mobility and stationary energy storage, and theion is in the vanguard of this tech revolution. theion will help the world achieve new levels of safe, sustainable and cost-effective electrification. Not only can this cell chemistry slash costs for the automotive and mobility sectors, but it should also be a true enabler and catalyst for electrified aviation.”