Dubai, United Arab Emirates, July 1, 2024 – theion, one of the world’s leading lithium-sulfur battery startups, based out of Berlin, Germany, has opened its first satellite office in the United Arab Emirates’ (UAE) commercial hub of Dubai. From its second home at IFZA free zone, its regional launchpad, theion will accelerate its expansion to the Arabian Gulf, bringing its lithium-sulfur battery technology to a dynamic region that is fast becoming a leader in energy innovation.
Unlike conventional lithium-ion batteries, theion makes use of sulfur, a globally abundant industrial waste product – including of the regional energy industry. By using sulfur for its batteries, theion turns waste into value, avoiding the environmental and societal harms that come from and opaque supply chains of mining traditional materials like cobalt, manganese, and nickel.
At a price of just AED 1 rather than AED 100 per kilogram, sulfur is about 99 percent cheaper than conventional battery materials. It is also three times lighter and much more energy-dense with clear benefits across core battery use cases – from Electric Vehicles (EVs) and Vertical Take-off and Landing (eVTOL) aircraft to energy storage and wearables. As demand for these use cases will continue to grow in MENA, theion’s regional office will directly support regional energy needs by forging partnerships with regional industry, academic institutions, and the relevant authorities.
As the world seeks to reduce greenhouse gas (GHG) emissions by 43 percent until 2030 – a finding of the first Global Stocktake conducted during COP28, the UN Climate Change Conference, which the UAE hosted in late 2023 – renewables have an essential role to play. But because they fluctuate with the weather, energy storage is equally important, making innovative battery technology such as theion’s key to powering the energy transition, which is a UAE priority.
Dr. Ulrich Ehmes, Chief Executive Officer at theion, said:
“Opening an office in the UAE, our first presence outside of our homebase of Germany, is the logical next step in our ongoing expansion to the Arabian Gulf region. The energy transition is a top priority to GCC states, regional economies are growing and attracting professionals from around the globe, and there is a compelling vision for the future coupled with the commitment to make that vision a reality. What better place to write the next chapter of battery technology than the Arabian Gulf region?”
Since participating in GITEX Global in October 2023, the theion team has spent time across the Gulf – from Qatar and Saudi Arabia to the UAE – connecting with potential partners as well as investors and working to complete its AED 55 million Series A round. Just over six months in, partnerships and investments are on the horizon and will be made public in the coming months.
Matthias Fengler, Chief Financial Officer at theion, added:
“We’re breaking new ground and disrupting the battery industry. Our battery technology could go a long way in powering the energy transition. But to unlock its full potential, we need partners – like our seed investors Team Global and Enpal – who not only believe in our vision but are prepared to invest in it. In our view, the GCC is one of the few places where we can find those partners and the sulfur that our battery technology depends on.”
Just last month, theion announced a breakthrough in the chemistry of its anode, the latter being one of two electrodes facilitating the flow of electric charge in batteries. Replacing graphite with a specially coated lightweight polymer host, theion successfully enhanced the safety of its batteries by reducing the development of dendrites, which are formations of metal that can build up on the lithium surface and eventually short out the battery cell, a hurdle to commercialization.
This durable lightweight anode – which enables 2,000 charging and discharging cycles, validated by one of Germany’s leading research institutes – is only the latest innovation in theion’s pioneering battery technology. From its new strategic home in the UAE, theion will bring its knowhow to the GCC, build on it with regional partners, and contribute to talent growth and job creation en route to bringing its batteries to market and fostering the GCC’s sustainability agenda.
About theion GmbH
Headquartered in Berlin, Germany, theion develops sulphur crystal batteries for mobile and stationary applications. By using sulphur, theion targets to store up to three times more energy in its batteries relative to today’s state-of-the-art of batteries. theion’s proprietary production processes are very cost and energy efficient complementing the idea of creating a highly sustainable battery. For more information, visit: https://www.theion.de/
About Team Global
Team Global is a technology holding with offices in Berlin and Palo Alto; the company is founded and led by CEO Lukasz Gadowski. Team Global invests in frontier technology companies in the sectors of mobility, aerospace, energy, and robotics across Asia, Europe, and the USA. Notable portfolio companies include Archer Aviation, AutoFlight, Volocopter, Enpal, and MILES mobility.
Disclaimer
This press release contains certain forward-looking statements relating to Theion’s business, which can be identified by terminology such as “strategic”, “proposes”, “to introduce”, “will”, “planned”, “expected”, “commitment”, “expects”, “set”, “preparing”, “plans”, “estimates”, “aims”, “would”, “potential”, “awaiting”, “estimated”, “proposal”, or similar expressions, or by expressed or implied discussions regarding the ramp up of Theion’s production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Theion or any of its business units. You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Theion regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Theion’s products will achieve any particular revenue levels. Nor can there be any guarantee that Theion, or any of the business units, will achieve any particular financial results.