TECPETROL ANNOUNCES SIGNIFICANT ALPHA LITHIUM SHAREHOLDER SUPPORT AND EXTENSION TO 20 OCTOBER 2023 OF BOARD-SUPPORTED OFFER

TECPETROL ANNOUNCES SIGNIFICANT ALPHA LITHIUM SHAREHOLDER SUPPORT AND EXTENSION TO 20 OCTOBER 2023 OF BOARD-SUPPORTED OFFER

 
 
  •   Special Committee and Board of Directors of Alpha recently publicly announced their unanimous recommendation that Alpha shareholders tender to the Offer  
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  •   Since Alpha's announcement, Tecpetrol has received significant shareholder support for its Offer, and has decided to extend the expiry time of the Offer to 5:00 p.m. ( Vancouver time) on 20 October 2023 to provide all remaining shareholders additional time to tender  
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  •   Shareholders that have already tendered do not need to take any further action  
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  •   Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email:     assistance@laurelhill.com    
  •  

Tecpetrol Investments S.L. (" Tecpetrol "), a member of the Techint Group, announces today that it has extended the expiry time of its board-supported offer (the " Offer ") to acquire all of the issued and outstanding common shares of Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") for C$1.48 in cash per share to 5:00 p.m. ( Vancouver time) on 20 October 2023 . Shareholders using a broker may have an earlier cut-off time and are urged to tender their shares immediately. Shareholders who do not tender their shares will not receive the enhanced offer price under the Offer.

 

On 28 September 2023, the Special Committee and Board of Directors of Alpha, after receiving a positive independent fairness opinion from PI Financial Corp., publicly announced   their unanimous recommendation that shareholders tender their shares to the Offer   . Since then, a significant number of shares have been tendered to the Offer. Tecpetrol has also received feedback from a substantial number of Alpha shareholders expressing their desire to tender their Alpha shares to the Offer, but that they encountered difficulties tendering through their brokers in advance of their brokers' cut-off times on account of the date on which Alpha's unanimous Board support was announced and the Canadian federal holiday on 2 October 2023 . As a result, Tecpetrol has extended the Offer to provide Alpha shareholders who have not yet tendered their shares to the Offer with additional time to do so, taking into account the upcoming Canadian Thanksgiving holiday weekend and anticipated brokers' cut-off times for the extended expiry date.

 

   As previously disclosed, the Offer represents Tecpetrol's best and final offer to Alpha shareholders. No further extensions are contemplated   .

 
  Risks of Not Tendering  
 

It is a non-waivable condition of the Offer that there be validly deposited under the Offer more than 50% of the outstanding Alpha shares, excluding Alpha shares owned by Tecpetrol and its joint actors. If this legally required minimum tender condition is not satisfied by the expiry time of 5:00 p.m. ( Vancouver time) on 20 October 2023 , no Alpha shares will be acquired by Tecpetrol and Alpha shareholders will not be able to participate in the Offer.

 

Shareholders should be aware that if the Offer is not successful, they will face significant risks as Alpha shareholders, as described in Tecpetrol's Notice of Variation and Extension dated 22 September 2023 . Since the announcement of the Offer, comparable lithium developer peers have traded down 43% 1 , while Alpha is up 22% as of 3 October 2023. Tecpetrol believes that Alpha's share price may suffer significant downward pressure if the Offer is not completed.

 

  How to Tender Q&A  

 

  Q:        How do I tender my Alpha shares?  

 

  A: Shareholders whose shares are registered in the name of an investment advisor, stock broker, bank, trust company or other intermediary should immediately contact that intermediary for assistance if they wish to accept the Offer so that the necessary steps can be taken to enable the deposit of such shares under the Offer. Intermediaries likely have established tendering cut-off times that are prior to the expiry time. Shareholders must instruct their intermediaries promptly if they wish to tender.

 

Registered shareholders who own Alpha Lithium share certificates or DRS statements representing their shares and wish to accept the Offer must properly complete and execute the Letter of Transmittal that accompanied the original take-over bid circular dated 8 June 2023 (printed on YELLOW paper) and deposit it, at or prior to the Expiry Time, together with certificate(s) or DRS Statements representing their Alpha shares and all other required documents, with Laurel Hill Advisory Group, the Depositary and Information Agent, at its office in Toronto, Ontario specified in the Letter of Transmittal in accordance with the instructions set forth in the Letter of Transmittal.  These materials are also available on SEDAR+ under Alpha's profile at www.sedarplus.ca .

 

  Q:        Who can I call if I have questions or require assistance in tendering my shares?  

 

  A: Shareholders who have questions or require assistance in tendering their Alpha shares may contact Laurel Hill Advisory Group, the Depositary and Information Agent for the Offer, by telephone toll-free inside North America at 1-877-452-7184 , or outside North America at 1-416-304-0211, or by email at   assistance@laurelhill.com   .

 

  Q:        What is the deadline for me to instruct my broker to tender my Alpha shares?  

 

  A: The Offer has been extended and is now open for acceptance until 5:00 p.m. ( Vancouver time) on 20 October 2023 . Shareholders whose shares are registered in the name of an investment advisor, stock broker, bank, trust company or other intermediary should immediately contact that intermediary for assistance if they wish to accept the Offer so that the necessary steps can be taken to enable the deposit of such shares under the Offer. Intermediaries likely have established tendering cut-off   times that are prior to the expiry time . Shareholders must instruct their intermediaries promptly if they wish to tender.

 
 
   
 

  ___________________________  

 
 

  1  

 
 

  Lithium developer peers include Argosy Minerals, Galan Lithium, Lake Resources, Lithium Chile, Lithium South, Standard Lithium and Vulcan Energy.  

 
 
 
  
Additional Offer Details
 
 

Tecpetrol will be filing a Second Notice of Extension in respect of the extension of the expiry time to 5:00 p.m. ( Vancouver time) on 20 October 2023 that will be available on SEDAR+ under Alpha's profile at www.sedarplus.ca and will be mailed to Alpha shareholders in accordance with applicable law.  Tecpetrol encourages Alpha shareholders to read the full details of the Offer and other important information set forth in the Second Notice of Extension, which should be read in conjunction with the take-over bid circular dated 8 June 2023 , the notice of variation and extension dated 22 September 2023 and related offer documents.  These materials, which contain information on how to tender to the Offer, are available on SEDAR+ under Alpha's profile at www.sedarplus.ca .

 
  About the Tecpetrol Energy Transition Unit  
 

Tecpetrol's Energy Transition Unit is Techint Group's dedicated business unit responsible for advancing its position in the global energy transition through investments in decarbonized energy sources, carriers and technologies, with the objective of contributing to a significant reduction in the carbon footprint. As part of this initiative through its subsidiary Techenergy Lithium S.A., Tecpetrol has built a lithium processing pilot plant in northern Argentina engineered for scale, which supports a production flowsheet involving direct lithium extraction. For additional information on Tecpetrol, please visit its website at https://www.tecpetrol.com/en .

 

The Techint Group is a global conglomerate with diversified business lines in steelmaking, complex infrastructure construction, design and construction of industrial plans and machinery, technologies for the metals and mining industries, oil and gas exploration and production and research-oriented health facilities. Through our six main companies – Tenaris S.A. (NYSE and Mexico : TS and EXM Italy: TEN), Ternium S.A. (NYSE: TX), Techint Engineering & Construction, Tenova, Tecpetrol and Humanitas – the Techint Group operates on six continents, employs 79,300 employees and generates over US$33 billion in annual revenue. We have an extensive track record of completing large transactions in industrial and extractive sectors around the globe, including in Canada , and in navigating complex regulatory frameworks. For additional information on the Techint Group, please visit its website at https://www.techintgroup.com/en .

 
  Caution Regarding Forward-Looking Statements  
 

This news release contains "forward looking information". Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as "plans", "expects", "intends" or variations of such words, and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information contained in this press release includes, but is not limited to, statements relating to expectations relating to the Offer; the ability of Tecpetrol to complete the transactions contemplated by the Offer; the results, effects, mechanics, timing and completion of the Offer; the satisfaction or waiver of the conditions to consummate the Offer (including the statutory minimum condition); the likelihood that the price of the Alpha shares will decline back to pre-Offer levels if the Offer is not successful; and intentions to not further extend the expiry time of the Offer.

 

Although Tecpetrol believes that the expectations reflected in such forward-looking information are reasonable, such statements involve risks and uncertainties and have been based on information and assumptions that may prove to be inaccurate, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking information and such factors and assumptions are based on information currently available to Tecpetrol, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, performance or achievements of Tecpetrol or the completion of the Offer to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information include, without limitation: that the conditions of the Offer may not be satisfied or waived by Tecpetrol at the expiry of the Offer period; the ability of Tecpetrol to acquire a majority of the outstanding Alpha shares, excluding those shares beneficially owned, or over which control or direction is exercised, by Tecpetrol or any of its joint actors; the decision by Tecpetrol to further extend or not extend the expiry time of the Offer; and the pendency or completion of the Offer or any subsequent transaction. Forward-looking information in this news release is based on Tecpetrol's beliefs and opinions at the time the information is given, and there should be no expectation that this forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Tecpetrol expressly disclaims any obligation to do so except as required by applicable law.

 
  Disclaimers  
 

This news release is for informational purposes only and does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities. The Offer has been made solely by, and subject to the terms and conditions set out in, the formal Offer and Circular (as amended), letter of transmittal and notice of guaranteed delivery. The Offer has not be made to, nor will deposits be accepted from or on behalf of, shareholders in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction.

 

The Offer has been made for the securities of a Canadian company that does not have securities registered under section 12 of the United States Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"). Accordingly, the Offer is not subject to section 14(d) of the U.S. Exchange Act or Regulation 14D or Rule 14e-1 of Regulation 14E. The Offer has been made in the United States with respect to securities of a "foreign private issuer", as such term is defined in Rule 3b -4 under the U.S. Exchange Act, in accordance with Canadian corporate and securities law requirements. Shareholders in the United States should be aware that such requirements are different from those of the United States applicable to tender offers under the U.S. Exchange Act and the rules and regulations promulgated thereunder.

 

The Offer and all contracts resulting from acceptance thereof are and will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. Accordingly, the provisions of the German Takeover Code (Wertpapiererwerbs- und Übernahmegesetz) do not apply to the Offer.

 

None of the United States Securities and Exchange Commission, any United States state securities commission or the German Federal Financial Supervisory Authority has approved or disapproved (or will approve or disapprove) the Offer, or passed (or will pass) any comment upon the fairness or the merits of the Offer or upon the adequacy or completeness of the information contained in this news release or in any other document relating to the Offer. Any representation to the contrary is unlawful.

 

SOURCE Tecpetrol

 

 

 

 Cision View original content: http://www.newswire.ca/en/releases/archive/October2023/06/c7493.html

 
 

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Tecpetrol Bid and Hombre Muerto Drilling Update

Tecpetrol Bid and Hombre Muerto Drilling Update

 

Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") or the (" Company ") announces that TechEnergy Lithium Canada Inc., a subsidiary of Tecpetrol Investments S.L. (" Tecpetrol "), has advised that it has taken-up and acquired 102,692,615 common shares of Alpha, representing approximately 54% of the issued and outstanding Alpha shares, pursuant to its offer (the " Offer ") to acquire Alpha for C$1.48 in cash per share. Tecpetrol advises that they will pay for the tendered shares within three business days.

 

Tecpetrol has further advised that all the conditions to the Offer have been satisfied or waived (including the statutory minimum tender condition), and Tecpetrol has extended the expiry time of the Offer by a mandatory period of 10 days to 5:00 p.m. (Vancouver time) on October 31, 2023.

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TECPETROL ANNOUNCES SUCCESSFUL TAKE-OVER BID TO ACQUIRE CONTROL OF ALPHA LITHIUM CORPORATION AND MANDATORY EXTENSION OF OFFER TO OCTOBER 31, 2023

TECPETROL ANNOUNCES SUCCESSFUL TAKE-OVER BID TO ACQUIRE CONTROL OF ALPHA LITHIUM CORPORATION AND MANDATORY EXTENSION OF OFFER TO OCTOBER 31, 2023

 
 
  •   Tecpetrol has satisfied the statutory minimum tender condition and has taken-up and acquired 54% of the issued and outstanding Alpha shares

     
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  •   Tecpetrol is extending the bid period for an additional 10 days in order to allow remaining minority shareholders to tender to the Offer so that they may promptly receive the offer price and cash-out their investment

     
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  •   Shareholders who have not already tendered are urged to do so immediately to ensure they receive the offer price as there can be no assurance that Tecpetrol will be able to timely complete a subsequent acquisition transaction (if at all)

     
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  •   Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email:    assistance@laurelhill.com    o   r visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information  
  •  

Tecpetrol Investments S.L. (" Tecpetrol "), a member of the Techint Group, announces today that its wholly-owned subsidiary, TechEnergy Lithium Canada Inc., has taken-up and acquired 102,692,615 common shares of Alpha Lithium Corporation (" Alpha "), representing approximately 54% of the issued and outstanding Alpha shares, pursuant to its offer (the " Offer ") to acquire Alpha for C$1.48 in cash per share.  Tecpetrol will pay for the tendered shares within three business days.

 

All of the conditions to the Offer have been satisfied or waived (including the statutory minimum tender condition), and Tecpetrol has extended the expiry time of the Offer by a mandatory period of 10 days to 5:00   p.m. ( Vancouver time) on October 31, 2023 in order to allow the remaining minority shareholders to tender their Alpha shares to the Offer.  No further extensions are contemplated.

 

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Alpha Lithium Reminds Shareholders to Tender their Shares Before October 20th Deadline

Alpha Lithium Reminds Shareholders to Tender their Shares Before October 20th Deadline

 
  •   Alpha recommends that Alpha shareholders tender their shares in advance of the October 20   th   deadline.  
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  •   Alpha's Board and Management have indicated to the Company that they intend to tender to the Revised Tecpetrol Offer.  
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  •   PI Financial Corp. has confirmed that the Revised Tecpetrol Offer is fair to shareholders from a financial point of view.  
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  •   Shareholders that have already tendered do not need to take any further action.  
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  •   Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email:    assistance@laurelhill.com    or visit    https://www.tecpetrol.com/en/investors/alpha-lithium-offer    for more information.  
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Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") or the (" Company ") is issuing a reminder to shareholders to tender their shares in advance of the Revised Tecpetrol Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023 . Shareholders using a broker may have an earlier cut-off time.

 

To the knowledge of the Company after reasonable inquiry, as of October 17, 2023, each of the directors and officers of Alpha have indicated an intention to tender their shares to the Revised Tecpetrol Offer.

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TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

 
 
  •   The Tecpetrol Offer of C$1.48 in cash per share is the only offer to purchase all of the outstanding Common Shares that is currently open for acceptance by shareholders. No other binding offers have been received by Alpha.  
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  •   The Alpha Special Committee and the Board of Directors have unanimously recommended that Alpha shareholders accept the revised and enhanced Offer from Tecpetrol and tender their shares.  
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  •   PI Financial has confirmed that the increased Offer is fair to shareholders from a financial point of view.  
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  •   Shareholders that have already tendered do not need to take any further action.  
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  •   Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com or visit https://www.tecpetrol.com/en/investors/alpha-lithium-offer for more information.  
  •  

Tecpetrol Investments S.L. (" Tecpetrol ") today issued a reminder to shareholders of Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha ") to tender their shares in advance of the Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023 . Shareholders using a broker may have an earlier cut-off time and are urged to tender their shares immediately.

 

On September 28, 2023 , the Board of Directors of Alpha, based on the unanimous recommendation of the Special Committee and after receiving a positive independent fairness opinion from PI Financial Corp., publicly announced its unanimous recommendation that shareholders tender their shares to the enhanced Tecpetrol Offer of C$1.48 in cash per share. Since then, a significant number of shares have been tendered to the Offer.   As previously disclosed, the Offer represents Tecpetrol's best and final offer to Alpha shareholders. No further extensions are contemplated   .

 

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TECPETROL URGES ALPHA LITHIUM SHAREHOLDERS TO TENDER AS SOON AS POSSIBLE, FOLLOWING POSITIVE RECOMMENDATION BY THE ALPHA BOARD OF DIRECTORS AHEAD OF BID DEADLINE OF 3 OCTOBER 2023

TECPETROL URGES ALPHA LITHIUM SHAREHOLDERS TO TENDER AS SOON AS POSSIBLE, FOLLOWING POSITIVE RECOMMENDATION BY THE ALPHA BOARD OF DIRECTORS AHEAD OF BID DEADLINE OF 3 OCTOBER 2023

 
 
  •   Alpha Lithium has announced its Board of Directors recommends that shareholders accept Tecpetrol's offer to acquire Alpha Lithium for a price of C$1.48 per share

     
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  •    Take Prompt Action    – Alpha shareholders must tender their shares in advance of the expiry time of 5:00 p.m. on Tuesday , 3 October 2023  

     
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  •   Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email: assistance@laurelhill.com   
  •  

On 28 September 2023 Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) (" Alpha " or the " Company ") announced that its Board of Directors, based upon the unanimous recommendation of the special committee of independent directors and a positive fairness opinion from PI Financial Corp., recommended that Alpha shareholders accept the enhanced offer from Tecpetrol Investments S.L. (" Tecpetrol ") to acquire all of the issued and outstanding common shares of Alpha at a price of C$1.48 per share in cash (the " Offer "). Tecpetrol welcomes the Board's decision and urges Alpha shareholders to tender their Alpha shares immediately in order to crystallize a significant premium for their shares. All shares must be submitted in advance of 5:00 p.m. ( Vancouver time) on 3 October 2023 . We note that shareholders using a broker will have an earlier expiry and encourage shareholder to submit immediately.

 

 

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Altech Batteries Ltd  Cerenergy Battery Project Funding Progressing Well

Altech Batteries Ltd Cerenergy Battery Project Funding Progressing Well

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (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.

DEBT PROCESS

As previously mentioned, Altech has engaged ten commercial banks and two venture debt funds in the first round of financing discussions, receiving largely positive initial feedback. Based on this feedback, the Company has selected a preferred financial institution- a European bank with a proven track record in providing debt funding for technology-driven projects, particularly those within the innovation sector.

Although the mandate has not yet been formally executed, Altech intends to make an official announcement once this step is complete.

Meanwhile, the bank's commercial and technical teams have been diligently conducting a comprehensive review of the Cerenergy projects and its technology. The technical due diligence process is critical for ensuring that the project meets the bank's financing and risk criteria. As part of this process the onsite Altech experts are in detailed discussions with the bank's representative. The banks have visited Dresden and the Fraunhofer testing facilities and visit Hermsdorf, Germany where the prototype production is located in the coming weeks, which will be a key step in concluding the technical evaluation.

In parallel with these efforts, Altech is progressing discussions for securing a federal government guarantee, which would further strengthen its ability to secure the necessary debt funding for the project. Officials from the Ministry of Finance have already been briefed on the initiative, and the due diligence process for the application is actively underway. This federal guarantee will serve as an underwriter and therewith derisk any debt funding for the project substantially.

EQUITY FUNDING

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

The Group on one hand is specifically targeting large utility companies, data centre operators, investment funds, and corporations that are deeply committed to the green energy transition and on the other hand industrial partners with access and know-how and resources relevant to Cerenergy battery production, implementation or market access. These potential partners are seen as ideal due to their strong alignment with the project's sustainable energy focus and their ability to provide significant financial support. Progress in equity discussions has been promising, with several Non-Disclosure Agreements (NDAs) signed, enabling deeper engagement with prospective investors. Additionally, draft term sheets have been circulated to interested parties, outlining the key terms and conditions for investment. These documents provide a foundation for negotiations and facilitate more detailed discussions around the equity stake and partnership structure.

The decision to divest part of the project is strategically aimed at easing the Company's financial burden while bringing in experienced partners who can contribute to the project's success. By securing both equity and debt financing, Altech aims to finalize the full funding package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. Moving forward, the focus will be on advancing these discussions and converting interest into formal commitments, which are critical for the project's progression.

GRANT APPLICATIONS

Altech has been actively applying for various grants offered by the State of Saxony, Federal Government of Germany, and the European Union. The State of Saxony and Brandenburg, along with the European Union, offer substantial support for renewable energy projects, including grants aimed at converting lignite coal to renewable energy sources. These grants are part of broader efforts to transition regions dependent on fossil fuels toward sustainable energy solutions. Altech's site, located in these areas, stands to benefit from various funding programs designed to support clean energy projects, including EU grants for energy transformation and innovation. Altech has applied for several of these grants to advance its CERENERGY(R) project, securing essential financial backing for technology development, high-tech industries, expert employment and infrastructure upgrades.

OFFTAKE ARRANGEMENTS

Altech has secured three key Offtake Letters of Intent (LOIs) for 100% of its CERENERGY(R) production.

1. Zweckverband Industriepark Schwarze Pumpe (ZISP): An agreement was signed on 13 September 2024 for ZISP to purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The purchase is contingent on performance tests and battery specifications meeting customer requirements.

2. Referenzkraftwerk Lausitz GmbH (RefLau): A second LOI was executed with RefLau, a joint venture between Enertrag SE and Energiequelle GmbH. RefLau will buy 30 MWh of CERENERGY(R) storage n the first year, increasing to 32 MWh annually for the next four years. Additionally, Altech will purchase green electricity for its planned production plant.

3. Axsol GmbH: A third LOI was signed with Axsol, a leading renewable energy solutions provider. Axsol will exclusively distribute CERENERGY(R) batteries to the Western defense industry, facilitating early market entry and sales. These agreements are crucial for financing and advancing the CERENERGY(R) project.

 

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.

 

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