Since its foundation in 2017, Altris has been on a rapid growth trajectory, developing its patented cathode material, Altris Prussian White, along with electrolytes, battery cells, and production blueprints for market-leading sodium-ion batteries. This new funding marks the first tranche of a Series B round, positioning Altris to meet the growing demand for sustainable and cost-competitive batteries sourced in Europe.

The Series B1 round introduces new investors such as Clarios and Maersk Growth to the company’s list of owners, investing alongside the existing owners EIT InnoEnergy and Molindo. With these strategic additions, Altris now counts investors representing key industry verticals: grid storage, low voltage vehicle applications, and marine applications.

 

In a press release issued today, Christer Bergquist, interim CEO of Altris, commented: “We are pleased to close the B1 funding round and excited to welcome our new investors to Altris, who are tier one players within their respective fields. I am proud of our owner list, which consists of long-term business partners contributing with extensive expertise and experience. Together, we will continue to develop and validate our technology within their respective industry verticals – to bring the world a better battery at scale.”

The addition of Clarios and Maersk Growth as strategic investors in Altris underscores the transformative potential of its sodium-ion technology. This represents a significant step forward for both the energy transition and Europe’s competitiveness, as it enhances battery production within Europe and strengthens the local supply chain. Altris’ innovative solutions, free from conflict minerals and reliant on abundant European resources, are poised to play a crucial role in reducing dependence on external battery sources and fostering a self-sufficient, sustainable energy future for Europe.

“InnoEnergy has proudly supported Altris since our initial investment in 2017, and we are excited to see the company continue its growth and innovation journey”, says Magnus Lundin, Investment Director at InnoEnergy Scandinavia. “From the outset, we recognized Altris’ potential to significantly influence the future of energy storage in Europe. With the addition of these new strategic investors, we are confident that the validation and deployment of Altris’ sodium-ion battery technology will not only accelerate its market presence but also drive the broader electrification of multiple sectors, advancing Europe’s transition to sustainable energy solutions.”

This financing is the latest of several important milestones for Altris. Earlier this year, Altris and Clarios announced an exclusive Joint Development Agreement to develop a low voltage power cell for mobility applications. In late 2023, the company presented a commercial-sized sodium-ion battery cell with an energy density of 160 Wh/kg. This achievement was made possible by Altris’ patented Prussian White cathode material. With a capacity of more than 160 mAh/g, it holds the highest capacity declared to date for this type of material, made entirely from abundant resources, and further positions the company as a strong player in the sodium-ion battery sector. We look forward to Altris’ continued success and its positive impact on the European battery value chain.

 

For more information, read Altris press release.