(Alliance News) - Stellantis NV announced Thursday that Stellantis Ventures, the company's venture capital fund, has invested in Lyten Inc to accelerate the commercialization of Lyten's 3D Graphene applications for the mobility industry, including the LytCell lithium-sulfur battery for EVs, lightweight composite materials and new in-vehicle sensing systems.

Lyten, a company pioneering the use of three-dimensional graphene, will leverage the unique tunability of this material to improve vehicle performance and customer experience while promoting the decarbonization of the transportation sector.

"Unlike conventional lithium-ion batteries, Lyten's lithium-sulfur batteries do not use nickel, cobalt or manganese, resulting in an estimated 60 percent lower carbon footprint than the best batteries currently available," reads the company's memo.

Raw material sourcing and production for lithium-sulfur batteries can take place locally, in North America and Europe, strengthening regional sovereignty. "This technology will meet the needs of companies looking for lightweight, energy-dense batteries that are not at risk of supply chain disruptions."

Stellantis launched Stellantis Ventures in 2022 as a venture capital fund dedicated to making investments in early- and late-stage startups developing innovative and sustainable technologies for the automotive and mobility sectors. Stellantis Ventures, backed by an initial investment of EUR300 million, "is a key element of the company's Dare Forward 2030 strategic business plan, which sets out priority goals for Stellantis, including a dramatic reduction in CO2 emissions with a 50 percent reduction by 2030 compared to 2021, leading to zero net emissions by 2038 with single-digit percentage offsetting of remaining emissions."

Stellantis is in the red by 0.1 percent at EUR14.60 per share.

By Claudia Cavaliere, Alliance News reporter

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