Altech Batteries

Quarterly Report March 2024

Altech Batteries Limited (Altech/the Company) (ASX: ATC and FRA: A3Y) is pleased to present its Quarterly Activities and Cash Flow Report.

Excellent Progress on ABS60 60kWh CERENERGY® Battery Prototypes

  • Excellent progress with two 60 kWh battery pack prototypes
  • Pilot plant re-design at Fraunhofer IKTS Hermsdorf for prototype manufacture
  • All prototype materials have been procured from suppliers
  • Ceramic tube manufacture is 50% complete
  • Cell assembly progressing well with more than half completed
  • Low reject and defect rates experienced
  • Two battery vacuum casings delivered and undergoing heat loss testing
  • Finalisation of prototypes will be mid 2024

Excellent Definitive Feasibility Study for 120 MWh First Production Line CERENERGY® Battery Project

  • Highly positive Definitive Feasibility Study (DFS) – 120 GridPacks (1MWh) pa
  • Capital cost estimated at €156 million with excellent project economics
  • Pre-tax Net Present Value (NPV9) of €169 million
  • Attractive Internal Rate of Return (IRR) of 19%
  • Steady state payback period is 3.7 years, with Annual Revenue of €106 million per annum
  • EBITDA of €51 million or margin of around 47%
  • Altech Board Decision to Proceed to Funding Phase
  • Low lifetime levelised cost of storage €0.06/kWh vs lithium- ion batteries at €0.149/kWh
  • Grid energy storage market projected to grow by 28% CAGR
  • Grant funding applications underway
  • Equity and mezzanine financing discussions in progress
  • Offtake for 5 years production in progress

Update on Silumina AnodesTM Project

  • All equipment now received for the plant construction
  • Commissioning of plant areas underway
  • Non-disclosure Agreements signed for commercial samples with global automobile and battery supply chain companies
  • Project includes robust economics including an NPV(10) of €684 million

Investor Presentation

  • CEO Iggy Tan recently presented at the RIU Conference held in Fremantle, Australia
  • Shareholders are invited to view a recording of the presentation at the following website link

https://investorhub.altechgroup.com/activity-updates/altech- riu-presentation-february-2024-iggy-tan


Click here for the full ASX Release

This article includes content from Altech Batteries, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Altech Batteries Ltd  Second Offtake for CERENERGY GridPacks

Altech Batteries Ltd Second Offtake for CERENERGY GridPacks

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce 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.

Highlights

- Strategic Offtake Letter of Intent agreement

- Executed with Referenzkraftwerk Lausitz GmbH (RefLau)

- Joint Venture of utility companies Enertrag SE and Energiequelle GmbH

- Offtake for 30MWh in first year, then rising to 32MWh in subsequent years

- For the first five (5) years of production

- Agreement for Altech to purchase renewable electricity

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 Enertrag SE is part of the Uckerwerk Energietechnik GmbH group and is a leader in renewable energy, specialising in wind turbines, solar power, and Power-to-Gas systems. Headquartered in Brandenburg, Germany it operates across Germany, France, Ghana, Namibia, Poland, Spain, South Africa, Uruguay, the UK, and Vietnam, integrating battery storage solutions.

Energiequelle GmbH, headquartered in Zossen, Germany, with branches in multiple countries, focuses on renewable energy projects like wind, biomass, and solar power. The company aims to produce and market green hydrogen, partially converting it back to electricity. It plans a facility near Altech with wind, solar systems, and a direct power line to RefLau.

RefLau, a joint venture involving Enertrag, Energiequelle, and research institutions, aims to develop a reference power plant powered solely by renewable energy, including green hydrogen. It seeks to mitigate supply gaps from solar and wind intermittency, enhancing grid stability with sector coupling and battery storage solutions.

Altech, Enertrag, and Energiequelle plan to collaborate by using green electricity for Altech's battery plant and potentially acquiring Altech's CERENERGY(R) storage systems. This would stabilise renewable energy output, ensuring continuous power and enabling hybrid power islands. In 2020, Germany's Bundestag and Bundesrat passed laws to phase out coal, compensating the lignite industry and supporting structural changes. The partners are focusing on developing the Schwarze Pumpe industrial park as a pilot for standardised clean energy projects across Europe and beyond.

The partners aim to negotiate electricity contracts to power Altech's planned battery plant with green energy from Enertrag and Energiequelle's facilities. The partnership aims to develop a standard hybrid power island using 80MW of solar and wind energy, incorporating 32 Altech CERENERGY(R) 1MWh GridPacks, with Enertrag and Energiequelle purchasing the storage units. This then standardised solution is to be applied all over Europe for decentralised energy solutions. These decentralised standalone energy solutions, referred to as an "Energy Island", are capable to support and be integrated into the existing power grid and therefore are considered as the preferred, cost-effective solution.

Enertrag & Energiequelle, being leading utility and energy solution providers in Europe, plan to purchase CERENERGY(R) GridPack batteries from Altech, with deliveries anticipated to commence in Q4-2026. The purchase includes a 30MWh target for 2027, and discounts based on electricity supply agreements, with performance guarantees. Preliminary purchase targets are 30MWh in 2027, 32MWh in 2028, 32MWh in 2029-2031.

Key Terms of the Agreement

- Start of delivery approximately Q4-2026 at the earliest and subsequent to commissioning of the Altech production plant and the Lausitz reference power plant

- Technical data and guarantees according to the data sheet

- Confidential price per GridPack has been agreed

- Preliminary purchase targets are 30MWh in 2027, 32MWh in 2028, 32MWh in 2029-2031

- GridPack Control Unit as an interface between EMS and BMS included in price

In addition, RefLau, the green hydrogen pilot project joint venture between Enertrag and Energiequelle, plans to purchase 10MWh CERENERGY(R) GridPack batteries from Altech for its plant in Schwarze Pumpe, which will permit a close working relationship between the companies and enable Altech to enter the important hydrogen business segment in which conventional lithium-Ion batteries cannot be applied due to their safety risk.

Management Comment - CEO Iggy Tan

"The interest shown by RefLau in Altech's technology is a clear signal of growing demand for innovative energy storage solutions, particularly as industries shift toward 100% renewable energy. It's encouraging to see potential customers like RefLau recognising the value of our scalable and reliable battery systems.

This second Letter of Intent marks a significant milestone for Altech Batteries as it represents our second offtake agreement for the CERENERGY(R) GridPack Battery Energy Storage System and more so means that the first two years of production is spoken for and 50% of the 3 following years".



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.

News Provided by ABN Newswire via QuoteMedia

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Altech Batteries Ltd  CERENERGY Battery Project Funding Update

Altech Batteries Ltd CERENERGY Battery Project Funding Update

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce an update on funding of the CERENERGY(R) sodium-chloride solid-state battery project in Saxony, Germany.

Highlights

- Financing plan and target structure in place

- Funding investment teaser documents and data room established

- Reach out to 10 commercial banks and 2 venture debt funds - all positive interests

- Shortlisting potential lead bank

- Equity Funding - potential sale of minority interest of the project to realise capital and strategic value

- Discussions and draft term sheets shared with investors

- Offtake agreement LOI signed with ZISP

On 14 June 2024, the Company, 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, See Figure 1*.

DEBT PROCESS

A funding invitation document (investment teaser) has been finalised and distributed to various financial institutions for debt funding in the project. The Group has engaged ten commercial banks and two venture debt funds in a first market round, receiving predominantly positive initial feedback. Several of these institutions have expressed strong interest in participating in the financing. The Group is now in the process of shortlisting potential lenders to identify the most suitable financial partners for the project. To support a thorough due diligence process, a secure data room has been set up, providing detailed project information to interested financiers and ensuring full transparency. The DFS financial model has been adjusted to stress-test various funding scenarios tailored to the lending institutions ABG has engaged with. Further steps involve determining the most suitable banks to form a syndicate and appointing a lead bank to guide the lending process. This syndicate will play a crucial role in structuring the financing arrangement to meet the project's requirements.

EQUITY FUNDING

In addition to ongoing debt financing efforts, the Group has engaged several equity advisers to support the equity component of the project's funding package. As part of this strategy, the Altech Group plans to divest a minority interest in the project to one or two strategic investors. This partial divestment aims to attract investors who can bring not only capital, but also strategic value to the project, aligning with the CERENERGY(R) project's long-term growth and sustainability objectives.

The Group is specifically targeting large utility groups, data centre operators, investment funds and corporations that are heavily involved in the green energy transition. These entities are seen as ideal partners due to their strong alignment with the project's focus on sustainable energy solutions, as well as their capacity to provide substantial financial backing.

To date, significant progress has been made in these equity discussions. Several Non-Disclosure Agreements (NDAs) have been signed, allowing for deeper engagement with prospective investors. Altech has also circulated draft term sheets to a number of interested parties, outlining the proposed terms and conditions for investment. These documents serve as a starting point for negotiations, paving the way for more detailed discussions regarding the potential equity stake and partnership structure.

The strategic decision to divest a portion of the project is aimed at reducing the overall financial burden on the Company while bringing in experienced partners who can contribute to the project's success. By securing both the equity and debt components, the Company aims to finalise the full financing package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. The next steps will focus on advancing these discussions and converting interest into formal commitments, which are crucial for moving forward with the project.

OFFTAKE ARRANGEMENTS

On 13 September 24, Altech announced the execution of an Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30 MWh 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 aligns with the sales price contained within Altech's Definitive Feasibility Study. 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. This lays the foundation for additional offtake arrangements, which are currently in progress. These agreements are vital for advancing our financing and construction timelines for the CERENERGY(R) project.

CEO and MD Mr Iggy Tan stated "The funding stage of any project is the most complex and challenging process of any project. Securing a big four funding adviser with expertise and a global network is a major step in our financing efforts. Altech is advancing both debt and equity discussions, along with offtake agreements, to fully fund the CERENERGY(R) project. We are seeing strong interest, especially from European banks and potential equity partners".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PO741A78

To view MD Iggy Tan explain the Funding, please visit:
https://www.abnnewswire.net/lnk/23705649



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.

News Provided by ABN Newswire via QuoteMedia

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Altech Batteries Ltd  $4M Placement to Advance Battery Projects

Altech Batteries Ltd $4M Placement to Advance Battery Projects

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) announces a capital raising of $4 million, comprising the issue of 66,666,667 fully paid ordinary shares in the capital of the Company at an issue price of $0.06 per Share.

Highlights

- Binding Commitments to raise $4 million

- Placement oversubscribed

- Issue price of $0.06 per share, a 50% premium to recent Entitlements Issue on 7 August 2024

- Funds will be used to further progress the CERENERGY(R) and Silumina AnodesTM Projects

This price is a premium of 50% of the issue price to the Company's shareholders in the recent Entitlement Offer conducted on 7 August 24. Participants in the placement will also receive free attaching listed options (ASX:ATCOC) of 1 option for every 1 share issued with an exercise price of $0.06 and expiry date of 31 December 2025.

It is proposed that the Shares and Options under the Placement will be issued on 22 November 2024 and will be issued out of the Company's available capacity under Listing Rules 7.1.

The Placement was managed by Evolution Capital. The costs associated with the Placement was a 6% fee on all funds raised. Evolution Capital will also receive 8,000,000 ATCOC options for managing the Placement.

The funds raised under the Placement will be used for:

- Securing project finance and bank due diligence process

- Securing offtake for CERENERGY(R) project

- CERENERGY(R) environmental and project permitting

- Completion of fabrication of second 60kWh battery prototype for CERENERGY(R) project

- Finalise commissioning of the Silumina AnodesTM pilot plant

- Preliminary assessment into a 4 GWh factory (Giga factory)

- Corporate costs and working capital.

Managing Director Mr Iggy Tan stated "We are encouraged by the strong market interest in our current initiatives. In August 2024, we conducted an Entitlements Issue at $0.04 per share that provided our existing shareholders with a fair opportunity to participate previously. The current placement at $0.06 per share represents a 50% premium over the recent Entitlements Issue price and Altech does not intend to conduct another Entitlement Issue at the higher price.

This capital raise comes at an exciting juncture for Altech as it advances the commercialisation of its 120MWh CERENERGY(R) battery project and nears commissioning of the Silumina Anodes(TM) pilot plant. A portion of the funds will also be allocated to a preliminary study for a larger 4 GWh battery facility, marking the next significant step towards commercialisation".

To view the intended use of funds for the $4M raised, please visit:
https://abnnewswire.net/lnk/7B3ZY5B0



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.

News Provided by ABN Newswire via QuoteMedia

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Altech Batteries Ltd  Breakthrough 55% Higher Energy Density Anodes

Altech Batteries Ltd Breakthrough 55% Higher Energy Density Anodes

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) has achieved a remarkable milestone in its Silumina AnodesTM battery material technology. The Company is delighted to announce an average 55% surge in lithium battery anode energy capacity, marking a significant breakthrough.

Highlights

- Altech achieves 55% surge in energy capacity in Li-ion batteries

- Average energy retention capacity of approximately 500 mAh/g

- Stable battery with sound cycling performance

- Follows Altech previously cracking the "silicon barrier" by achieving 30% energy increase

- Dispersion challenges limited further improvements

- Persistent R&D has now resolved these challenges

- Altech aims to revolutionise the Lithium-ion battery industry

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, See Figure 1.

In a series of tests, the Altech lithium-ion battery anode material exhibited an average energy retention capacity of approximately 500 mAh/g, which is significantly higher than the average of approximately 320 mAh/g for a normal lithium-ion battery anode. This represents an average of 55% increase in energy retention capacity. Importantly, the Altech Batteries demonstrated good stability and cycling performance, indicating that the technology is highly promising. Altech's technology has the potential to be gamechanging and has demonstrated that silicon particles can be modified to resolve the capacity fading caused by both the swelling and first-cycle-capacity-loss problems. Altech's Research and Development team, led by Dr. Jingyuan Liu, achieved this significant breakthrough.

Altech had previously declared a major achievement in the field of battery technology. The Company reported that it had overcome the "silicon barrier" and had manufactured and evaluated a range of lithiumion battery anode materials that exhibit a retention capacity of approximately 30% higher than the standard lithium-ion battery anode materials. Following this breakthrough, Altech's research and development laboratory in Perth, Western Australia has been striving to further enhance the technology beyond this initial success.

As the Company endeavoured to surpass the 30% retention capacity achieved in the previous generation of batteries by increasing the silicon content, it encountered challenges in dispersing the alumina-coated silicon particles. However, Altech managed to overcome these challenges by implementing improvements in organic binders, coating parameters, and several other innovative solutions. After persistent efforts, the final challenges were eventually resolved, allowing the Company to move forward with the development of the next generation of batteries.

Through laboratory testing of the composite graphite/silicon batteries, Altech was able to substantially overcome previously unresolved impediments associated with using silicon in lithium-ion battery anodes.

These impediments include silicon particle swelling, first-cycle capacity loss of up to 50%, and rapid battery degradation. Altech's testing showed that the innovative composite graphite/silicon batteries were able to overcome these challenges, by spherification of the silicon particles. The spherical structure allows the distribution of alumina-coated silicon in graphite voids, hence minimises the electrode layer damaging due to expansion, see Figure 3, and 4. By doing so, via the alumina coating, the negative impact caused by the expansion of silicon is well managed in a lithium-ion battery.

The lithium-ion battery industry has recognised the introduction of silicon in battery anodes as a crucial step in achieving a significant increase in energy density, as well as reducing costs. This is because silicon has approximately ten times the energy retention capacity of graphite, making it an ideal anode material for the next generation of lithium-ion batteries. However, until now, the use of silicon in commercial lithium-ion batteries has been limited due to two critical drawbacks. Firstly, during battery charge, silicon particles expand by up to 300% in volume, leading to particle swelling, fracturing, and eventual battery failure.

Secondly, silicon deactivates a high percentage of the lithium ions in a battery, immediately reducing battery performance and lifespan. The industry has been in a race to overcome these obstacles and crack the silicon barrier to unlock the full potential of silicon in lithium-ion batteries.

The Company completed a Definitive Feasibility Study for the construction of an 8,000tpa Silumina AnodesTM plant in Saxony, Germany, that included the following economics.

- Pre-tax NPV10 EUR684 million

- Low capital cost of EUR112 million

- Attractive Internal Rate of Return of 34%

- EBITDA EUR105 million p.a.

- Payback (full rate) 2.4 years

- Revenue per annum of EUR328 million

Altech is in a race to get its patented technology to market. To support the development, Altech has constructed a pilot plant adjacent to the proposed project site to enable the qualification process for its Silumina AnodesTM product. The Company has successfully completed the construction of the pilot plant and is now in the process of hot commissioning.

CEO and MD Mr Iggy Tan stated "We are thrilled with the significant progress we have made in overcoming the critical challenges associated with using silicon in lithium-ion battery anodes. Our breakthrough technology represents a major step forward in unlocking the full potential of silicon in lithium-ion batteries, and we believe it has the potential to revolutionise the battery industry. We are currently commissioning a pilot plant to further scale up our technology and bring it to market".

Watch Interview with Dr Jingyuan Liu
https://www.abnnewswire.net/lnk/297I4J8A



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.

News Provided by ABN Newswire via QuoteMedia

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Altech Batteries

Altech – Cerenergy® Battery Project Funding Update

Altech Batteries Limited (Altech/Company) (ASX: ATC) (FRA: A3Y) is pleased to announce an update on funding of the CERENERGY® sodium-chloride solid-state battery project in Saxony, Germany.

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Evolution Energy Minerals Limited

Appointment of Chief Executive Officer

Evolution Energy Minerals Limited (Evolution or the Company) (ASX: EV1, FSE: P77) is pleased to announce the appointment of George Donne as Chief Executive Officer, effective immediately. Mr. Donne brings over 20 years of expertise in the mining sector, with a distinguished career spanning corporate finance advisory, private equity and executive roles in both public and private mining companies. His background includes extensive work in developing markets across multiple commodities, particularly base metals and lithium-ion battery raw materials. With hands-on experience in mergers and acquisitions, corporate financing, investor relations and governance, Mr. Donne is well-positioned to lead Evolution’s strategic growth.

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E-Power Resources (CSE:EPR)

E-Power Resources


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NMG Provides Update on its Progress Toward FID for its Fully Integrated Ore-to-Active-Anode-Materials Phase-2 Operations

  • Integrated feasibility study for NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant advancing to optimize production parameters, engineering, and cost projections, with the updated results expected early in Q1-2025.
  • Active work with Anchor Customers Panasonic Energy and GM to advance product qualification, project execution, commercial, and corporate requirements associated with the respective offtake agreements with a view to underpin Phase-2 development.
  • On-going project financing activities for the Company's Phase 2 including cumulative expressions of interest for approximately $1.4 billion comprised of potential lenders, Anchor Customers and institutional equity investors.
  • Eligibility to a refundable investment tax credit from the Canadian government estimated at about $350 million for the Phase-2 facilities.
  • Detailed engineering of Phase-2 facilities progressing with key engineering firms, supporting the preparation of purchase orders for vendor engineering and long-lead items.
  • Electrification program progressing well; Matawinie Mine's 120kV electrical substation contract awarded to ABB, construction planning underway for the powerline to supply the mine with clean hydropower, and development of zero-emission mining equipment by Caterpillar Inc. ("Caterpillar").
  • Even in the pressured market, 11.2% year-to-date gain on graphite prices (Benchmark Mineral Intelligence, September 2024) and 11.5 million EV sales (Rho Motion, October 2024); GM's EV production and sales in North America are growing significantly (GM, October 2024).
  • Appointment of Stéphane Leblanc to the Board of Directors and Karine Doucet to the position of Vice President Human Resources.
  • Continued engagement with First Nations and community to inform project execution and maximize local benefits.
  • Twelve-month rolling total recordable injury frequency rate of 1.73 and severity rate of 0.86 at the Company's facilities; and no major environmental incidents.
  • Period-end cash position of $56.5 million.

Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) reports progress update on its multiple workstreams to bring its Phase-2 Matawinie Mine and Bécancour Battery Material Plant to a Final Investment Decision ("FID"). The Company is actively advancing its integrated feasibility study, engaging with its Anchor Customers Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") ( TYO: 6752 ), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), ongoing project financing activities, and preparing for the construction of its Phase-2 operations.

News Provided by Business Wire via QuoteMedia

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Altech Batteries

Altech – $4M Placement to Advance Battery Projects

Altech Batteries Limited (Altech/Company) (ASX: ATC) (FRA: A3Y) announces a capital raising of $4 million, comprising the issue of 66,666,667 fully paid ordinary shares in the capital of the Company at an issue price of $0.06 per Share. This price is a premium of 50% of the issue price to the Company’s shareholders in the recent Entitlement Offer conducted on 7 August 24. Participants in the placement will also receive free attaching listed options (ASX: ATCOC) of 1 option for every 1 share issued with an exercise price of $0.06 and expiry date of 31 December 2025.

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Person signing agreement with hard hat in background.

International Graphite Gets AU$4.5 Million Grant for Collie Micronising Facility

International Graphite (ASX:IG6) has secured a AU$4.5 million government grant that will fund the construction of its Collie micronising facility, the company said in a press release on Tuesday (November 12).

The amount will be funded under the Australian Government Critical Minerals Office grant.

“We are excited to be pushing ahead with the construction of the new plant at Collie. Establishing a micronising business in Collie has been an important step in our development plans,” said CEO and Managing Director Andrew Worland.

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