Company
ASX:ATC
Altech Batteries Ltd is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS to commercialise the revolutionary CERENERGY® Sodium Chloride Solid State Battery. CERENERGY® batteries are the game-changing alternative to lithium-ion batteries.
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In July 2019 Altech Chemicals sold an option to Frankfurt-listed Altech Advanced Materials AG (AAM AG), whereby the German entity can acquire up to a 49% interest in Altech’s project for US$100 million.
The substation is expected to be completed during April 2020 with major structural works now complete.
The company continues to work with its preferred mezzanine lender Macquarie Bank and with offtakers for product from the HPA processing plant in Malaysia, which is being constructed.
Feedstock for the company’s plant in Malaysia will be sourced from the 100%-owned kaolin deposit at Meckering, Western Australia.
A key step for the company's HPA strategy is a capital raise by Frankfurt Stock Exchange-listed Altech Advanced Materials AG of around €69.4 million if fully subscribed.
The company can produce HPA at around a third of the price of traditional producers who use aluminium metal feedstock.
The three-day event at the Esplanade Hotel Fremantle - by Rydges offers social and networking opportunities for delegates.
The demand for 99.99% high purity alumina (HPA) is likely increase further with the future development of solid-state lithium-ion battery technology.
The company aims to be one of the world's leading suppliers of 99.99% high purity alumina through construction and operation of a 4,500 tonnes per annum processing plant in Malaysia.
The agreement will see the Swiss-based bank act as placement agent in relation to issuing of equity or other equity instruments by AAM via private placement.
Hardware & electrical equipment
Remaining construction for the plant, which is subject to final funding, is expected to be 24-months with first HPA output anticipated in late 2021.
The company’s recent rights offer has been supported by Deutsche Balaton through a €1.2 million participation.
The Kerrigan project is 20 kilometres south of the central wheat belt town of Hyden, Western Australia, and covers an area of about 230 square kilometres.
The company is focused on developing a high purity alumina (HPA) plant located in Johor, Malaysia.
The company is focused on developing a high purity alumina (HPA) plant located in Johor, Malaysia.
Altech is aiming to become one of the world's leading suppliers of high purity alumina through the construction of a processing plant at Johor, Malaysia.
No corporate profit tax on business income until year 10 of operations which will have a positive impact on project free cash flow.
Remaining construction for the plant, which is subject to final funding, is expected to be 24-months, with first HPA output anticipated in late 2021.
The balance of the placement was supported by a range of professional and sophisticated investors, many of whom are long-term holders of Altech shares.
The halt will remain in place until Thursday, December 5, or until an announcement is released to the market.
