Ultris
Ultris is a company.
Active
Updated: ·
Financial History
Total Raised
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Valuation
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Leadership Team
Key people at Ultris.
Frequently Asked Questions
Who founded Ultris?
Ultris was founded by Gene Linetsky (Co-founder and CTO).
Ultris is a company.
Key people at Ultris.
Ultris was founded by Gene Linetsky (Co-founder and CTO).
Ultris was founded by Gene Linetsky (Co-founder and CTO).
Key people at Ultris.
Altris is a Swedish startup developing sodium-ion batteries, focusing on sustainable energy storage solutions with superior performance compared to traditional lithium-ion alternatives. It targets markets like low-voltage mobile applications, defense, energy storage, and maritime, leveraging abundant sodium resources for cost-effective, eco-friendly batteries.[5]
The company serves battery manufacturers and end-users in high-growth electrification sectors, solving key problems such as lithium scarcity, high costs, and supply chain vulnerabilities by offering scalable cathode material (Fennac) that enables 1 GWh of battery production from a 2,000-tonne scale-up. Altris shows strong growth momentum through recent funding: €9.6M Series A, €4.8M bridge financing, SEK 150M Series B1 with investors like Clarios and Maersk Growth, and an additional SEK 80.75M, alongside leadership hires like CEO Christer Bergquist.[5]
Altris emerged from Uppsala, Sweden, as a pioneer in sodium-ion battery technology, capitalizing on sodium's abundance to address lithium-ion limitations. Founders drew from research in sustainable materials, developing patented active cathode material (Fennac) for robust, high-performance batteries.[5]
Key milestones include Series A funding in 2023 to scale production to 2,000 tonnes, enabling commercial pilots; bridge financing and executive appointments (CEO Björn Mårlid, later Christer Bergquist as permanent CEO and CFO) to advance commercialization; and 2025's Series B1 round with strategic investors, plus follow-on funding, signaling rapid traction toward pilot production and market entry.[5]
Altris rides the global shift to sustainable energy storage, fueled by EV adoption, grid-scale renewables, and maritime electrification amid lithium price volatility and geopolitical risks. Timing is ideal: sodium-ion tech matures as sodium costs ~1/100th of lithium, aligning with EU/OECD sustainability mandates and defense needs for resilient supply chains.[5]
Market forces favor Altris—rising demand for non-lithium alternatives (projected multi-TWh market), Sweden's battery innovation hub status, and investor confidence via repeat funding. It influences the ecosystem by accelerating sodium-ion commercialization, challenging lithium dominance, and enabling diverse applications from microgrids to ships.[5]
Altris is primed for breakout with pilot production online, targeting commercial cathode sales in 2026 amid sodium-ion hype. Trends like falling battery costs, regulatory green pushes, and hyperscaler energy needs will propel growth, potentially valuing it at unicorn status via Series B expansion.
Expect partnerships with majors like Clarios for cell integration and maritime trials with Maersk, evolving Altris from developer to key supplier—shaping a sodium-powered future that started with one innovative cathode.