Altris, the Swedish Sodium-ion Battery innovator, has announced a strategic investment and collaboration with Volvo Cars Tech Fund. The venture capital arm of Volvo Cars is participating in Altris’ B1 funding round, signaling a step forward for sodium-ion technology in the energy storage and automotive industries.
Volvo Cars Joins Hands with Altris
Since its founding in 2017, Altris has been committed to revolutionizing energy storage solutions. The company’s proprietary cathode material, Altris Prussian White, alongside their work on electrolytes, battery cells, and factory blueprints, positions them as leaders in Sodium-ion Battery development. The addition of Volvo Cars Tech Fund as an investor not only strengthens Altris’ funding but also paves the way for valuable collaboration on product development.
This agreement includes exploring the potential of Altris’ sodium-ion technology for battery energy storage systems (BESS) and other innovative applications in Volvo Cars’ product line. While sodium-ion batteries are not yet planned for Volvo Electric Vehicles, this investment lays the groundwork for a more diversified and sustainable supply chain in the future.
The Advantages of Sodium-Ion Batteries
Altris’ sodium-ion batteries prioritize safety, affordability, and sustainability. These batteries utilize abundant and recyclable materials such as salt, wood, iron, and air, providing a reliable alternative to Lithium-ion batteries. Their potential to lower costs and reduce supply constraints makes them an attractive option for industries seeking greener and economically viable energy solutions.
By partnering with Volvo Cars, Altris aims to commercialize their Sodium-ion Battery technology at scale. Volvo Cars, a leader in electrification and sustainable innovation, shares Altris’ vision of a greener future. Together, they are exploring new applications for sodium-ion batteries in both energy storage and vehicle systems, contributing to a more resilient and versatile supply chain.
Strategic Backing Across Industries
Altris’ B1 funding round has attracted other prominent investors, including Clarios and Maersk Growth, adding to its strong ownership group. These partnerships bring expertise from various sectors, such as grid storage, marine applications, and vehicle manufacturing. With this broad industry support, Altris is poised to advance its goal of becoming Europe’s leading supplier of sodium-ion batteries.
Comments from Altris and Volvo Cars
Christer Bergquist, interim CEO at Altris, emphasized the importance of this collaboration. He stated, “Volvo Cars’ expertise in electrification and sustainable innovation aligns perfectly with our vision. This collaboration will enable us to accelerate the development and commercialization of our sodium-ion batteries.”
Ann-Sofie Ekberg, CEO of Volvo Cars Tech Fund, shared her enthusiasm for the partnership. “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.”
A Greener Future with Sodium-Ion Technology
The Altris and Volvo Cars partnership underscores a shared commitment to sustainability and innovation. Together, they aim to unlock new possibilities for sodium-ion batteries across various applications. Whether in grid storage, automotive, or other industries, this collaboration is a crucial step towards building a more diverse energy landscape.
With ongoing support from strategic investors, Altris is well-positioned to drive the future of sodium-ion technology and contribute to a greener, more resilient battery market. This partnership highlights the importance of collaboration in achieving sustainable energy goals for the automotive sector and beyond.
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