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Highlights
- Altech Batteries GmbH's CERENERGY(R) battery project has received conditional binding funding approval under Germany's federal "STARK" economic development program.
- The approval relates to a grant covering approximately 30% of eligible project CAPEX, with funding of up to EUR46.11M.
- The funding commitment is conditional on achieving full project financial close by 30 June 2026 and parliamentary approval of funds under Germany's 2026 Federal Budget.
Conditional Binding Funding Commitment
The funding is being provided as part of the federal STARK program, which is supported by the Federal Ministry for Economic Affairs and Energy in cooperation with the EU. The aim of this program is to lead regions undergoing structural change into an ecologically, economically and socially sustainable future.
With the approval of the funding, the project has successfully completed the second and decisive stage of the approval process. The funding covers approximately 30% of the eligible investment costs and represents a significant milestone for the construction of the planned 120 MWh CERENERGY(R) battery factory in Germany.
This decision underscores the importance of the innovative CERENERGY(R) technology, which is being developed in collaboration with the Fraunhofer Society. The Sodium-Chloride Solid-State battery offers a safe, sustainable and strategically independent alternative to lithium-ion batteries and is expected to play an important role in future stationary energy storage solutions - especially for the European market.
Mr Daniel Raihani, Managing Director & Chief Executive Officer, commented "Securing conditional binding funding approval of up to EUR46.11 million under Germany's STARK program is a major milestone for the CERENERGY(R) project. The support reflects the strategic importance of establishing advanced, nonlithium energy storage manufacturing capability in Europe and recognises the technical progress achieved to date in collaboration with Fraunhofer IKTS.
"Importantly, the grant materially de-risks the project's capital structure by covering approximately 30% of eligible investment costs and provides a strong foundation as we progress toward full project financing and construction of the planned 120 MWh production facility in Saxony, Germany.
"We remain focused on completing financial close by mid-2026 and advancing the CERENERGY(R) technology toward commercial deployment to support long-duration, safe and sustainable stationary energy storage solutions for the European market".
As is customary for projects of this size, the funding commitment is subject to final financial close of the CERENERGY(R) battery project by June 2026 and budgetary approval of the funds in the 2026 federal budget.
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About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Daniel Raihani
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
