Altris AB

Altris AB was founded in 2017 in Uppsala, Sweden by Ronnie Mogensen, Reza Younesi, and William Brant — all researchers from the Angstrom Advanced Battery Centre at Uppsala University. The company's origin story begins in 2015, when Mogensen (then a master's student) and his supervisor Younesi began exploring the commercial potential of Prussian White, a sodium-iron cyanide compound with unusual electrochemical properties. Brant's expertise in materials chemistry completed the team, and the resulting spin-off has built the most distinctive cathode technology platform in European sodium-ion development. Altris's proprietary cathode materials — sold under the brand names Fennac and Altris Prussian White — are derived from only four raw materials: salt (sodium), wood (carbon from biomass), iron, and air (nitrogen). This near-total elimination of critical minerals is the most compelling raw-material story in the entire sodium-ion sector. Commercial-size cells using Prussian White cathodes achieve 160 Wh/kg energy density, matching LFP, with a manufacturing process that avoids lithium, cobalt, nickel, and manganese entirely. Altris has raised $77.1 million in total, with a Series B1 round in October 2024 led by Clarios International, Maersk Growth, and Volvo Cars Tech Fund. A Series B2 round closed in November 2025. Northvolt partnered with Altris to develop and industrialize Prussian White cells and incorporated the technology into Northvolt's sodium-ion product line before Northvolt's 2024 restructuring. Altris operates a cathode factory in Sandviken designed for 2,000 tons per year (equivalent to 3 GWh of battery production). The company has also partnered with Ligna Energy to develop the world's first ultrathin sodium-ion battery for wireless electronics — an application no other sodium-ion manufacturer is actively commercializing.