Advanced technology company Lyten announced today that it has raised $200 million, with proceeds from the financing aimed at scaling the production of a series of new products, providing decarbonization solutions for some of the largest greenhouse gas-emitting sectors, based on its 3D graphene supermaterials.

Founded in 2015, California-based Lyten develops applications utilizing its 3D graphene for the decarbonization of some of the hardest-to-abate sectors. 2D graphene is a single-layer sheet of carbon atoms with properties including being stronger than steel, having greater flexibility than rubber, more electrically conducive than copper, and ultralight weight. Lyten’s 3D graphene enables the supermaterial to be commercialized, by enabling its properties to be infused into other materials.

The new product lines to be supported by the financing include next-gen lithium-sulfur batteries with a low carbon footprint and without the use of nickel, cobalt, manganese, and graphite, lightweight composites that can reduce the amount of plastic used by up to half while maintaining structural and impact strength for applications including automotive, aviation, and industrials, and advanced sensor arrays for improved detection in automotive, industrial, health, and safety applications.

Dan Cook, Lyten’s co-founder and CEO, said:

“We are excited to welcome our Series B investors, each a leader in their respective markets and committed to achieving aggressive net zero targets for their industry. The influx of strategic investors reflects the evolution of Lyten from its early days of developing a first-of-its-kind supermaterial to now collaborating with industry leaders to bring disruptive, decarbonizing applications to market, utilizing the differentiated properties of Lyten 3D Graphene™.”

The company said that it is working with Fortune 500 companies including Stellantis and FedEx, as well as with the U.S. Government on the delivery of new products. It anticipates delivering its first commercial composites application to customers this year.

Stellantis CEO Carlos Tavares said:

“Lyten’s materials platform is a key investment for Stellantis Ventures, in line with our Dare Forward 2030 goal to accelerate deployment of innovative, customer-centric technologies. Specifically, Lyten’s Lithium-Sulfur battery has the potential to be a key ingredient in enabling mass-market EV adoption globally, and their material technology is equally well-positioned to help reduce vehicle weight, which is all necessary for our industry to achieve carbon net zero goals.”

The funding round was led by venture capital firm Prime Movers Lab, and included participation fro strategic investors including Stellantis, FedEx, Honeywell, and Walbridge Aldinger Company.

Zia Huque, General Partner at Prime Movers Lab, and member of the Lyten Board of Directors, said:

“Lyten stands out as a unique company that combines a truly novel materials technology with an extraordinarily talented management team capable of developing and commercializing multiple applications. Its first three applications, Lithium-Sulfur batteries, Composites, and IoT Sensors, each deliver capabilities into the largest industries in the world that would simply not be possible without their proprietary 3D Graphene.”