theion welcomes Greentech Unicorn Enpal as new Investor.
Enpal, the Greentech Unicorn in Germany, has become a strategic investor into Sulfur battery developer, theion. Enpal is the ideal partner to access the rapidly growing market for photovoltaic solutions and stationary storage in Europe.
theion’s technology is based on a platform strategy deploying Sulfur as the cathode material which is cheap and abundantly available worldwide. For batteries addressing the mobility market, theion combines Sulfur 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-Sulfur based cell chemistries.
Henning Rath, Chief Supply Chain Officer at Enpal, who will join the theion supervisory board said:
For Enpal, this investment is crucial to secure early access to an innovative battery technology and shows our long-term commitment to theion.
“The powerful and cost-efficient sulfur-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.”
Dr. Ulrich Ehmes, CEO of theion said:
We are excited to have Enpal as a strategic investor on board.
“Our goal is to make stationary storage accessible for everyone, as a 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.”
About theion
Headquartered in Berlin, Germany, the German start-up theion, develops energy storage solutions based on lithium-sulfur and sodium-sulfur cell chemistries. Sulfur provides for superior properties in terms of energy density, product costs, safety, supply chain security and CO2 footprint. This opens significant market potential for mobile and stationary energy storage solutions.
About Enpal
Enpal, the greentech unicorn in Germany, offers an integrated solution for renewable energy, pioneering the energy transition. The company holds the market leadership for residential solar systems in Germany, selling several thousand new rooftop PV systems every month.
In this context, the solar system is part of the integrated energy ecosystem of electricity storage, charging station, heat pump and the Enpal energy manager, which is an intelligent combination of hardware and software. Founded in 2017, Enpal is digitizing and revolutionizing the purchase of green energy for a fossil fuel-independent home with its rental model and flexible, no-down-payment purchase option.
Nearly 50,000 households equipped by Enpal already make up our climate-friendly energy community in Germany. The world’s largest impact and technology investors such as TPG Rise Climate, Softbank Vision Fund II, Princeville Climate Technologies, and The Westly Group provide Enpal with business growth. For customer growth, Enpal receives support from funding partners such as BlackRock, ING and DWS.
Highlights:
- Enpal secures access to innovative battery technology for stationary storage through investment in theion
- theion develops high performance, sustainable and price competitive Sulfur battery technology
- Companies partner for future commercialisation
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theion welcomes Greentech Unicorn Enpal as new Investor, Berlin, September 11, 2023
