Uppsala, Sweden-based Altris, a sodium-ion battery developer, announced on Tuesday that it has secured €4.8M (SEK 50M) in bridge financing.
The bridge facility was oversubscribed by 60 per cent. The company plans to raise series B funding in 2023.
Altris says the latest funding will enable it to complete its new industrial-grade battery manufacturing facility in Uppsala, Sweden.
Appoints new CEO and CFO
Besides the funding, the Swedish company also announced the appointment of Björn Mårlid as its new CEO and Christer Bergquist as its new CFO.