Altech Batteries Ltd Quarterly Activities Report

Perth, Australia (ABN Newswire) - Altech Batteries Ltd (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) announced its immediate entry into the sodium nickel chloride (SNC) (or previously referred as sodium alumina solid state (SAS), battery market in Australia, Europe and United States of America through a strategic collaboration and distribution agreement with the current largest SNC battery manufacturer AMPower, a subsidiary of the Chilwee Group. Chilwee is the third largest e-mobility battery manufacturer in China, with an annual turnover of US$20 billion, 23,000 employees, and production capabilities spanning lead-acid, lithium-ion, sodium-ion, and next-generation battery technologies. AMPower currently manufactures conventional Zebra-type sodium nickel chloride (Na/NiCl2) solid-state batteries - using the (R) same chemistry as CERENERGY - but mainly for the small Uninterrupted Power Supply (UPS) industrial market. AMPower was originally established as a joint venture with General Electric to produce sodium nickel chloride UPS batteries under the Durathon brand.

In the initial phase, AMPower will produce sodium nickel chloride solid state UPS batteries for Altech which will be under Altech brand, supervision and specification for distribution across Australia, Europe, and the USA.

This strategy provides a faster pathway to cash flow for Altech. This will strengthen the market presence and branding of Altech while the company advances and secures funding for its CERENERGY 120 MWh energy storage project in Germany.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/2ZD9K863

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:
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