Altris announces a strategic investment and collaboration agreement with Volvo Cars Tech Fund. This partnership marks a significant step forward in advancing sodium-ion battery technology and diversifying the energy storage landscape.
A strategic investment for a sustainable future
Volvo Cars Tech Fund, the venture capital arm of Volvo Cars, has joined Altris’ B1 funding round, reinforcing confidence in Altris’ innovative approach to battery development. This investment follows the recent participation of other strategic investors, including Clarios and Maersk Growth, alongside existing shareholders such as InnoEnergy and Molindo. The collaboration underscores Volvo Cars’ commitment to exploring alternative battery technologies that contribute to a more sustainable and resilient supply chain.
Commenting on the strategic investment, Magnus Lundin, Investment Director Scandinavia at InnoEnergy, welcomes Volvo Cars Tech Fund as a new investor: “With the addition of Volvo Cars Tech Fund, Altris now has three strategic investors spanning applications in battery energy storage systems, low-voltage and marine. This signals a major industry shift toward innovative, cost-effective, and sustainable energy storage solutions. We are confident that this collaboration will further accelerate the commercialisation and adoption of Altris’ sodium-ion technology, strengthening Europe’s push towards a more resilient and sustainable energy future.”
Driving innovation in energy storage
As part of the investment, Altris and Volvo Cars will collaborate to explore the potential of sodium-ion battery energy storage systems (BESS) and other applications within Volvo Cars’ product portfolio. This makes Volvo Cars the first automotive manufacturer to work directly with Altris on sodium-ion battery technology.
Altris’ sodium-ion batteries present an attractive alternative to traditional lithium-ion batteries. Made from abundant and easily recyclable materials such as salt, wood, iron, and air, Altris’ patented Prussian White cathode material is set to transform the battery industry by offering a safer, more sustainable, and cost-effective solution.
A shared vision for electrification
Christer Bergquist, interim CEO at Altris, commented in a press release issued yesterday: “Volvo Cars’ expertise in electrification and sustainable innovation aligns perfectly with our vision. This collaboration will enable us to accelerate the development and commercialisation of our sodium-ion batteries. We are thrilled to welcome Volvo Cars Tech Fund as an investor and partner.”
Ann-Sofie Ekberg, CEO of Volvo Cars Tech Fund, said: “We are delighted to invest in Altris and support its mission to develop the battery of the future. We believe its technology has the potential to transform the battery market by providing more sustainable solutions, at a fraction of the cost.”
Strengthening Altris’ market position
With the addition of Clarios, Maersk Growth, and Volvo Cars Tech Fund as investors, Altris is now strategically backed across key industry verticals, including grid storage, vehicle applications, and marine applications. These partnerships bring a wealth of expertise, further strengthening Altris’ position as a leader in sodium-ion battery technology.
InnoEnergy has supported Altris since 2017, recognising its potential to play a key role in the future of energy storage in Europe. This latest step marks an important moment in Altris’ journey, with solid industry backing helping to advance their sodium-ion technology. We would like to congratulate the Altris team on this significant achievement, which further strengthens Altris’ position to drive the shift toward more sustainable, reliable, and affordable energy solutions.
For more information, read Altris’ press release.
