Altech Batteries Ltd (ATC.AX) Annual Report to Shareholders
Altech Batteries Ltd
The joint venture is commercialising its CERENERGY battery, with plans to construct a 120MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY battery modules to provide grid storage solutions to the market.
Altech has executed sales offtake Letters of Intent with three companies that covers the full first five years of production from the 120MWh production facility. Altech is now forging forward with securing the finance to construct the production facility, envisaged to be a combination of debt, equity from the sale of a minority interest in the project, and grants and subsidies.
The CERENERGY battery has achieved the highest possible dark green rating from Standard & Poors, due to its non-reliance on critical minerals as well as its expected 50% less greenhouse gas emissions to lithium-ion battery technology.
Altech has licenced its proprietary high purity alumina coating technology to 75% owned subsidiary Altech Industries Germany GmbH (AIG), which has finalised a Definitive Feasibility Study for the development of a 8,000tpa silicon/graphite alumina coating plant in the state of Saxony, Germany to supply its Silumina Anodes product to the burgeoning European electric vehicle market.
The Company patented its game changing technology of incorporating high-capacity silicon into lithium-ion batteries. Through in house R&D, the Company has cracked the "silicon code" and successfully achieved a 55% higher energy battery with improved cyclability or battery life. Higher density batteries result in smaller, lighter batteries and substantially less greenhouse gases, and is the future for the EV market. The Company's proprietary silicon graphite product is registered as Silumina Anodes.
The Company is in the race to get its patented technology to market, has finalised the construction of a Silumina Anodes pilot plant at AIG's industrial site within the Schwarze Pumpe Industrial Park in Saxony, Germany. The European silicon feedstock supply partner for this plant will be Ferroglobe. The project has also received green accreditation from the independent Norwegian Centre of International Climate and Environmental Research (CICERO). The pilot plant adjacent to the proposed project site will allow the qualification process for its Silumina Anodes product. AIG has executed NDAs with German and American automakers as well as a European based battery company.
The pilot plant to produce commercial samples of the product has now been completed and is operational. Altech is working to ramp up production of the pilot plant in order to provide the commercial samples to the prospective companies for their independent testing within their product range.
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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.
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
Source:
Altech Batteries Ltd
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