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Charged EVs | Altris raises $10.6 million in Sequence A funding for cathode materials manufacturing and sodium-ion R&D

Charged EVs | Altris raises $10.6 million in Sequence A funding for cathode materials manufacturing and sodium-ion R&D

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Sodium-ion battery firm Altris has raised €9.6 million ($10.6 million) in Sequence A funding from EIT InnoEnergy Scandinavia and others, which it’ll use to scale up manufacturing of its cathode materials Fennac and to proceed sodium-ion battery R&D.

“Our new industrial manufacturing unit will be sure that Fennac-based batteries change into a actuality inside two years,” stated Altris CEO Adam Dahlquist.

Fennac is a cathode materials designed for sodium-ion batteries. “The funding secures Altris’s manufacturing scale-up of Fennac, to 2,000 tons, enabling 1 GWh of sustainable batteries,” the corporate stated.

Fennac consists of sodium, iron carbon and nitrogen, and in comparison with alternate options, the corporate says its patented manufacturing technique is low-cost and extra environmentally pleasant. Additionally, the corporate says Fennac-based batteries could be produced utilizing current lithium-ion manufacturing processes and gear.

“Utilizing solely ample supplies, Altris’s know-how gives robust financial and environmental advantages to allow the following technology of batteries that can initially speed up the deployment of grid-scale storage purposes,” stated EIT InnoEnergy Scandinavia Funding Supervisor Markus Berglund.

Supply: Altris



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