Altris AB

Altris makes its case on raw material simplicity: the Prussian White cathode is built from iron, salt, wood carbon, and air alone — no cobalt, nickel, or manganese — while still matching LFP at 160 Wh/kg. Founded in Uppsala in 2017 as a spin-off from the Angstrom Advanced Battery Centre, the company has raised $77.1 million total, including a Series B1 led by Clarios and the Volvo Cars Tech Fund, and its Sandviken factory turns out 2,000 tons of cathode a year, roughly 3 GWh equivalent. A partnership with Ligna Energy produced the world's first ultrathin sodium-ion battery for wireless electronics, a niche nobody else here is chasing. Northvolt had integrated Altris's technology before its 2024 restructuring.