Sodium-ion Battery developer Altris, based in Uppsala, has successfully raised €13.2 million in a Series B1 funding round, advancing battery technology. The funding welcomes new strategic investors, including Clarios and Maersk Growth, aiming to boost the commercial production of Altris’ innovative sodium-ion cathode material. Clarios and Maersk Growth join the ranks of existing investors such as EIT InnoEnergy and Molindo.
Altris, founded in 2017, focuses on developing advanced technologies in the battery industry. Their patented Prussian White technology has made significant strides in sustainable energy solutions. The Series B1 funding will support the completion of Altris’ pilot production facility. It will help meet the growing demand for cost-efficient batteries, particularly in grid storage, low-voltage vehicles, and marine sectors.
Strategic Investment for Growth
Clarios and Maersk Growth’s involvement brings valuable industry insights into energy solutions. The partnership complements Altris‘ goal of bringing sustainable energy solutions to market. Christer Bergquist, interim CEO of Altris, expressed satisfaction with the completed funding round. He highlighted the importance of strategic partnerships in developing industry-leading battery technologies.
Federico Morales-Zimmermann, Vice President at Clarios, emphasized the strategic importance of this investment. By supporting Altris, Clarios aims to set new standards for the automotive industry in efficiency and sustainability. This collaboration marks a step forward in the pursuit of a more energy-efficient future.
Advancements in Technology
Altris’ technology focuses on producing efficient sodium-ion batteries using abundant raw materials. Earlier achievements include the release of a commercial-sized Sodium-ion Battery cell with an energy density of 160 Wh/kg. This superior energy performance is powered by Altris’ Prussian White cathode material, showcasing high capacity and efficiency.
Ole Graa, Head of Fleet Technology at A. P. Moller-Maersk, praised the collaboration with Altris. He highlighted the technology’s potential to contribute towards reaching net zero greenhouse gas emissions by 2040. The energy density along with safety credentials supports a range of applications from automotive to marine sectors.
Future Prospects
This funding round positions Altris to meet European demand for sustainable battery technology. It echoes a significant milestone in Altris’ growth, cementing its position as a leader in the Sodium-ion Battery market. The partnership with investors like Clarios and Maersk Growth enhances its path towards sustainable innovation, ensuring a cleaner future in energy solutions.
Overall, the investment marks a forward leap in Sodium-ion Battery technology. Altris’ continued development and strategic investments underscore a positive trajectory towards energy-efficient solutions across different sectors.
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