Altris' mission is to enable high performance batteries to accelerate the energy transition, without increasing the cost to the environment or to customers. The company combines university research roots with commercial-scale production, positioning itself as a differentiated competitor in the emerging sodium-ion battery market. Altris won the EIT Innovation Team Awards for pioneering work on safe and sustainable sodium-ion battery technology, with support on its journey from laboratory to commercial readiness.
Cyborg Score Rationale
Altris holds strong technology differentiation in sodium-ion cathode materials and has secured institutional backing (Clarios, Maersk Growth). However, the company remains pre-profitability with emerging market uncertainty, limited production scale-up, and early commercialization risk in a capital-intensive sector. Revenue growth is present but margins remain deeply negative.
Top Insights
Altris achieved revenue growth of 259.0% between 2023 and 2024, signaling accelerating commercial traction in cathode material sales
Dual-track strategy targeting both industrial energy storage (lower energy density, cost-sensitive) and transport (higher performance) applications reduces single-market risk
Altris maintains close collaboration with Ångström Advanced Battery Center at Uppsala University, providing continued R&D advantage and credibility
Company operates with 50 employees and 2024 revenue of 34.0 MSEK (~$3.2M USD equivalent) against losses of 99.9 MSEK, indicating pre-scale operational losses typical for battery materials startups
Named Competitors
Natron Energy — US-based sodium-ion battery developer focused on grid storage and long-duration energy storage
SVOLT Energy Technology — Chinese sodium-ion battery producer competing on cost and production scale
HiNa Battery Technology — Chinese sodium-ion battery cathode material and cell manufacturer with 1,000-ton-scale production line and GWh-scale manufacturing
Faradion — Sodium-ion battery pioneer using layered oxide cathodes and hard carbon anodes; acquired by Reliance Industries, scaling production in India
TIAMAT — France-based sodium-ion battery manufacturer focused on high-power cells for EVs, scooters, and stationary storage with fast-charging capability
BYD — Chinese battery giant developing sodium-ion batteries for entry-level EVs and grid storage with planned 10 GWh capacity and 2026 vehicle launch
Recent Developments
(June 2023) Closed convertible bond financing round to accelerate pilot production facility completion
(2024) Increased headcount and achieved 259% revenue growth through expanding cathode material supply agreements
(2025-2026) Progressing toward pilot-to-commercial production scale-up at Uppsala facility to meet contracted demand
Open the full interactive Altris AB report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.