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CERENERGY(R) Salt Battery Project:
Altech announced that its first CERENERGY(R) ABS60 battery prototype is online and operating successfully. The completed battery unit has passed all physical tests with flying colours. The prototype was installed at Altech's joint venture partner Fraunhofer IKTS' test laboratory in Dresden, Germany, and integrated into a specially designed battery test station. This setup enables continuous daily charging and discharging cycles to assess the battery's efficiency, stability, and overall performance under real-world conditions.
Altech, through its Germany subsidiary Altech Batteries GmbH ("ABG"), announced the appointment of global big four professional services firm ("funding adviser") to assist in securing finance for the construction of Altech's 120MWh CERENERGY(R) battery manufacturing plant in Germany. The project's financing strategy is structured across three key areas: debt, equity, and grants.
These sources will cover not only the capital expenditures but also financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions.
Altech announced the execution of the first Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligned to Altech's Definitive Feasibility Study assumptions. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process.
Altech announced the execution of a second Offtake Letter of Intent between Referenzkraftwerk Lausitz GmbH (RefLau) and Altech Batteries GmbH. Reflau is a joint venture between utility companies Enertrag SE (Enerttag) and Energiequelle GmbH.
Under this Offtake Letter of Intent (LOI), RefLau will purchase 30 MWh of CERENERGY(R) energy storage capacity in the first year, then 32 MWh per year thereafter for the next four years of production. As part of the LOI, it was further agreed that Altech will purchase green electricity at competitive prices directly from the partners in the region for the planned production plant.
Altech announced the execution of a third offtake Heads of Agreement (HOA) between Axsol GmbH (Axsol) and Altech Batteries GmbH. Axsol is a leading, award-winning provider of integrated renewable energy solutions and is based in Germany. Axsol leverages its expertise in diverse battery technologies and systems, alongside specialised equipment, to seamlessly integrate solar, wind, hydrogen energy and fuel cell solutions. These advanced energy systems ensure safe and reliable energy supply across multiple industries. Altech has entered into an exclusive distribution agreement with Axsol to supply the western defence industry with CERENERGY(R) battery technology. As a certified supplier to NATO and select western allied forces, Axsol's involvement will streamline qualification procedures, enabling early market entry and sales of CERENERGY(R) batteries. These highly robust, durable and non-flammable batteries are ideally suited for defence applications and government agencies.
Silumina AnodesTM Battery Materials Project:
Altech achieved a remarkable milestone in its Silumina AnodesTM battery material technology. The Company announced an average 55% surge in lithium battery anode energy capacity, marking a significant breakthrough. By utilising its innovative proprietary technology, Altech has now improved on the previous 30% energy increase, by blending alumina-coated silicon particles (10%) with battery-grade graphite, to create a composite graphite/silicon anode for the lithium-ion battery electrode.
Upon activation, this composite material has now exhibited a remarkable 55% increase in capacity compared to the traditional graphite-only anode material.
Update of High Purity Alumina Project
Stage 1 and Stage 2 construction of the Johor HPA plant is completed. The project is currently on care and maintenance.
*To view the full report, please visit:
https://abnnewswire.net/lnk/54726BT2
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC) (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:
Corporate
Iggy Tan
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
