Reuters, Bate Felix, April 18, 2018

PARIS (Reuters) – Total’s (TOTF.PA) venture capital unit has acquired a stake in Ionic Materials, a privately held battery developer based in Massachusetts for an undisclosed amount, the French oil and gas company said on Wednesday.

Ionic Materials provides research and development services and focuses on developing advanced materials targeting high energy density batteries that it says are safer and cheaper than traditional ones.

“We have decided to invest in Ionic Materials in order to keep a closer look on this technology which may represent one of the most promising path for the development of solid-state batteries,” Total said, declining to say how much shares of the company it has acquired.

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