Altelium operates in the insurtech sector, providing specialized insurance and warranty solutions for batteries used in electric vehicles and renewable energy systems such as solar panels, wind turbines, and biomass. The company leverages advanced AI and real-time data analytics to assess battery health, offering a unique service that traditional insurance models, which rely on historical data, cannot match. Altelium's platform integrates the expertise of electrochemists, engineers, data scientists, and actuarial scientists to deliver comprehensive battery health services. The business primarily serves manufacturers, operators, and investors in the renewable energy and electric vehicle markets. Altelium's revenue model is based on selling insurance policies and extended warranties, as well as offering data analytics services. The company has received substantial support from Innovate UK and the UK Department for Business, Energy and Industrial Strategy, highlighting its innovative approach and contribution to the green energy transition.

Keywords: insurtech, battery health, AI analytics, electric vehicles, renewable energy, extended warranties, data-driven, electrochemistry, risk management, Innovate UK.