Swedish battery innovator Altris has taken further steps in advancing sustainable energy storage with new funding of €7.3 million (80.75 MSEK) from existing investors, including InnoEnergy
The funding shows confidence in the company’s strategy and technology as it sharpens its commercial focus in the rapidly evolving battery market.
Founded in 2017, Altris has become one of Europe’s most prominent developers of sodium-ion battery technology, recognised for its fully European production footprint and proprietary Prussian White cathode material.
Unlike lithium-ion batteries, which rely on scarce and geopolitically sensitive materials, sodium-ion technology utilises abundant and low-cost resources, providing a safer and more sustainable alternative for Europe’s clean energy transition.
Refocusing on commercial readiness
Altris is consolidating its operations in Uppsala, Sweden, while discontinuing earlier plans for pilot production in Sandviken. This decision aims to streamline resources and strengthen the company’s focus on customer-driven projects and commercial partnerships.
This shift highlights a bigger move from research and pilot production toward scalable commercialisation. With sodium-ion batteries increasingly seen as a complementary technology to lithium-ion solutions, Altris is allowing itself to meet growing demand across stationary energy storage, mobility, and industrial sectors.
Leadership to drive the next phase
Guiding Altris through this next stage is Christer Bergquist, who has officially been appointed permanent CEO after serving in an acting capacity since September 2024.
Bergquist, who joined the company in 2023, brings a strong background in business transformation and innovation management. His leadership is expected to play a crucial role as Altris focuses on building strategic partnerships and preparing its technology for commercialisation.
The new investment provides the financial foundation for Altris to execute its updated business plan and strengthen its presence in the European energy ecosystem. It also underscores investor belief in the company’s long-term potential and its ability to deliver a cost-effective, safe, and sustainable battery solution for the market.
Europe’s energy transition
Altris’ continued support from InnoEnergy shows the importance of sodium-ion technology within Europe’s bigger push for energy independence and sustainability.
InnoEnergy, known for backing transformative clean-tech ventures, has been a supporter of Altris from its early stages. Its ongoing investment demonstrates confidence in Altris’ potential to deliver scalable solutions for renewable integration, grid storage, and electric mobility.
As Europe works to reduce reliance on imported materials and enhance domestic production capabilities, sodium-ion batteries offer a compelling path forward. They provide cost stability, robust safety characteristics, and performance suited to both stationary and mobile applications.
A European innovation with global potential
With this latest funding and renewed strategic direction, Altris is well-set to advance from development to deployment. By focusing on customer partnerships and market-driven projects, the company aims to play a pivotal role in shaping Europe’s energy storage landscape.
As renewable energy continues to expand, solutions like those developed by Altris will be critical to ensuring stable, affordable, and sustainable power systems, which will ultimately help Europe meet its climate goals while creating a homegrown battery industry built for the future.
