Arkema (ARKAY) Backs Tiamat for Lithium-Free Battery Innovation
Arkema S.A. ARKAY recently became a shareholder in the start-up Tiamat. Tiamat, which spun off from the Centre National de la Recherche Scientifique (CNRS) in 2017, is at the forefront of sodium-ion battery technology. This strategic investment by Arkema aims to expedite the development of technical solutions tailored to sodium-ion batteries, offering an alternative to lithium-based technologies. Arkema is showcasing its commitment to being a significant player in battery materials, presenting a diverse range of products suitable for various energy storage technologies.
Since its inception in 2017, Tiamat has been actively designing, developing, industrializing and commercializing sodium-ion batteries. This lithium-free technology represents a breakthrough and mitigates challenges associated with lithium supply.
Arkema, alongside key strategic investors such as Stellantis Ventures and MBDA, contributed to Tiamat's recent fundraising, securing €22 million ($24 million). With these funds, supported by the French government and the European Union, Tiamat is set to construct a 5 GWh Giga-factory in France exclusively dedicated to sodium-ion battery cell production. The initial phase of 0.7 GWh is projected to be operational by the end of 2025, potentially creating a thousand jobs.
Leveraging its extensive array of advanced materials, Arkema is well-positioned to provide comprehensive solutions for the diverse landscape of its customers' battery technologies. The innovative sodium-ion technology pioneered by Tiamat holds particular fascination due to its capacity to eliminate reliance on lithium and various strategic metals. This strategic collaboration enriches Arkema's ecosystem and perfectly aligns with the company's overarching strategy of delivering cutting-edge materials for a sustainable world.
Shares of Arkema have increased 7% in the past year against a 15% fall of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Arkema currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Basic Materials space are Cameco Corporation CCJ, Carpenter Technology Corporation CRS and Cabot Corporation CBT, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cameco has a projected earnings growth rate of 156% for the current year. The Zacks Consensus Estimate for CCJ’s current-year earnings has been revised upward by 6.7% in the past 60 days. The stock is up around 95.8% in a year.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.96, indicating a year-over-year surge of 247.4%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have rallied 51.5% in the past year.
The Zacks Consensus Estimate for CBT’s current-year earnings has been revised upward by 4.4% in the past 60 days. CBT beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 2.3%, on average. The stock has gained around 5.1% in a year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
Cameco Corporation (CCJ) : Free Stock Analysis Report
Cabot Corporation (CBT) : Free Stock Analysis Report
Arkema SA (ARKAY) : Free Stock Analysis Report
