Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) has initiated a sweeping strategic refocus following a board restructure aimed at accelerating the commercialisation of its CERENERGY® and Silumina Anodes™ technologies. The refreshed board comprises Joe Graziano as non-executive chair, Daniel Raihani as managing director and CEO, and Hansjoerg Plaggemars as non-executive director.
The leadership transition follows concerns from the company’s largest shareholder that the previous strategy was not delivering timely commercial outcomes. Despite advanced feasibility studies and strong technical validation, the board identified a lack of progress in securing project financing for both the CERENERGY® sodium chloride solid-state battery project and the Silumina Anodes™ battery materials plant.
As part of the reset, Altech will reassess the viability of its agreement to distribute AMPower’s sodium–nickel–chloride uninterrupted power supply (UPS) batteries, noting the need for more disciplined capital allocation. While the arrangement offers near-term revenue potential, the board says the focus must remain on progressing the company’s two core technologies.
Raihani said the company must now take decisive action to unlock the commercial potential of its battery platforms.
“These projects demand disciplined execution, robust partnerships and a level of financial and technical resourcing that cannot be delivered through incremental steps,” he said. “We must focus our capital, sharpen our priorities, and align Altech with partners capable of advancing large-scale industrial technology.”
Strategic priorities refocused
Under the reset, Altech has identified four immediate priorities:
- Securing strategic partners:
Both flagship projects are technically advanced, supported by a completed DFS for the 120 MWh CERENERGY® plant in Germany, strong sustainability credentials and validated performance results, including 30–55% higher energy density for Silumina Anodes™ compared with standard graphite anodes.
The board intends to pursue partnerships with established manufacturers, industrial groups, chemicals companies or government-supported entities.
- Accessing up to €46.7 million in STARK funding:
Altech will prioritise the steps needed to unlock German government grant funding tied to confirmation of full project financing.
- Rationalising non-core assets:
A review is underway across the Meckering kaolin resource, Malaysian industrial land, and other corporate cost centres to streamline operations and free up capital for core activities.
- Reviewing cost structures:
The company is conducting a full cost audit to align operational overheads with its revised commercialisation pathway.
CEO remuneration
Raihani will be paid a fixed annual fee of $134,000 based on two working days per week, with additional days payable at $2,000 per day — terms the board says reflect Altech’s transitional phase.