Altris receives investment from Volvo Cars Tech Fund

Volvo Cars participates in the Altris financing round. The aim is to jointly develop energy storage systems with sodium-ion batteries

Uppsala, Sweden, March 26, 2025 - Swedish battery developer Altris has announced that Volvo Cars Tech Fund is participating as a strategic investor in the current B1 financing round. Altris and Volvo Cars have also entered into a cooperation agreement to develop new energy storage systems.

Growth trajectory and new partnerships

Altris was founded in 2017 and develops the patented cathode material technology "Altris Prussian White". In addition to developing its own electrolytes and battery cells, the company offers production concepts for sodium-ion batteries. Altris recently acquired Clarios and Maersk Growth as investors. Now Volvo Cars Tech Fund is another strategic partner.

Cooperation with Volvo Cars

Volvo Cars intends to use the investment to investigate the potential of sodium-ion batteries for energy storage systems. The car manufacturer thus becomes Altris' first partner from the automotive industry. Sodium-ion batteries are considered a cost-effective and sustainable alternative to lithium-based energy storage systems. However, they are not currently intended for use in Volvo Cars' electric vehicles.

Sustainable battery technology as a future prospect

Christer Bergquist, Interim CEO of Altris, emphasizes the importance of the new partnership:"Volvo Cars' expertise in electrification and sustainable innovation fits perfectly with our vision. This collaboration will accelerate the development and commercialization of our battery technology." Ann-Sofie Ekberg, CEO of Volvo Cars Tech Fund, also sees great potential.

We believe that Altris can change the battery market with sustainable solutions.

Ann-Sofie Ekberg, CEO Volvo Cars Tech Fund

Diversifying the supply chain

By using readily available materials such as salt, wood, iron and air, Altris' technology offers an environmentally friendly alternative to conventional batteries. The cooperation with Volvo Cars could help to reduce dependence on critical raw materials and diversify battery supply.

With Clarios, Maersk Growth and Volvo Cars Tech Fund, Altris now has strategic investors in grid storage, vehicle and marine applications on board. These partners bring valuable industry experience and strengthen Altris' position as a leading provider of sodium-ion battery technology.