Uppsala, Sweden-based Altris, which is working on new technology to produce cheaper and environmentally friendly sodium-ion batteries using renewable materials, has announced a new 9.6 Series A cycle. million euros (~$10.6 million). The round was completed by a combination of new investors and existing investors continuing to participate, including Molindo Energy, Northvolt and EIT InnoEnergy.
Altris will use this capital to increase production of its innovative battery cathode material, Fennac, to 2,000 tonnes, enabling 1 GWh of sustainable batteries. The capital would also go into further research and development of sodium-ion batteries.
It is important to note however that Altris has not yet produced these batteries for commercial use.
“With our new financial backing, we are ready to provide our customers with the knowledge and materials they need to achieve their sodium-ion battery aspirations, at a time when interest in this technology has waned. never been bigger,” said Adam Dahlquist, CEO of Altris. “Our new industrial manufacturing unit will make Fennac-based batteries a reality within 2 years”.
Altris’ technology is pretty much an improvisation on a massive level, of existing materials available for making batteries. The Swedish startup’s technology relies on “Fennac” (aka “Prussian White” in the battery industry), a structural material made up of sodium, iron, carbon and nitrogen. Altris claims to have developed a method to produce Fennac in a form ideal for use as a positive electrode material in sodium ion batteries. Using iron as the electron source and completely filling the material with sodium provides a theoretical capacity of 170 mAh/g and an average output voltage of 3.2 V compared to sodium.
The company sells Fennac to battery cell producers, who can use existing lithium-ion manufacturing processes and equipment to produce Fennac-based batteries. This simple transition allows for smooth adaptation, rapid scale-up of sodium-ion battery production, and rapid market introduction.
Altris, a Swedish startup that has developed technology to make environmentally friendly sodium-ion batteries, is awarded €9.6 million in Series A
Source link Altris, a Swedish startup that has developed technology to make environmentally friendly sodium-ion batteries, is awarded €9.6 million in Series A