Swedish sodium-ion battery developer Altris announced the successful completion of a SEK 150 million (USD 14.5 million/EUR 13.2 million) Series B1 funding round on Wednesday, welcoming Clarios and Maersk Growth as new investors. This funding marks the first tranche of a Series B round that aims to finalize the construction of Altris' pilot production facility, setting the stage for the commercial production of sodium-ion cathode material for battery cells.
Founded in 2017, Altris is focused on developing its proprietary cathode material, Altris Prussian White, alongside electrolytes, battery cells, and production blueprints for sodium-ion batteries. The recent investment round also included contributions from existing investors EIT InnoEnergy and Molindo, further solidifying Altris' position within its target industry sectors, which encompass grid storage, low-voltage vehicle applications, and marine applications.
Interim CEO Christer Bergquist expressed pride in the company's diverse ownership base, highlighting the strategic value of its investors. “I am proud of our owner list, which consists of long-term business partners contributing with extensive expertise and experience,” he stated.
Ole Graa, head of fleet technology at AP Moller – Maersk, emphasized the potential of Altris' technology, stating, “From the get-go, our team have been impressed with Altris' technology, which offers superior energy density with a lower emissions profile and safety credentials that lend itself very well to a wide range of potential applications.”
Earlier this year, Altris and Clarios announced a partnership to develop a low-voltage power cell specifically for mobility applications, further underscoring their collaborative efforts in advancing battery technology.
