Altech Batteries Ltd (ASX:ATC, OTC:ALTHF)'s majority-owned subsidiary, Altech Batteries GmbH, has received conditional binding funding approval of up to €46.11 million (A$80.51 million) for the CERENERGY® Sodium-Chloride Solid-State battery project in Saxony, Germany.
The approval is under Germany’s federal STARK economic development program and relates to a grant covering about 30% of eligible project capital expenditure.
The funding commitment is conditional on the project reaching full financial close by June 30, 2026, and on parliamentary approval of funds under Germany’s 2026 Federal Budget.
“Securing conditional binding funding approval of up to €46.11 million under Germany’s STARK program is a major milestone for the CERENERGY® project. The support reflects the strategic importance of establishing advanced, non-lithium energy storage manufacturing capability in Europe and recognises the technical progress achieved to date in collaboration with Fraunhofer IKTS," Daniel Raihani, managing director and CEO, said.
“Importantly, the grant materially de-risks the project’s capital structure by covering approximately 30% of eligible investment costs and provides a strong foundation as we progress toward full project financing and construction of the planned 120 MWh production facility in Saxony, Germany.
“We remain focused on completing financial close by mid-2026 and advancing the CERENERGY® technology toward commercial deployment to support long-duration, safe and sustainable stationary energy storage solutions for the European market.”
What the approval supports
The company said the approval marks completion of the second and decisive stage of the funding process and supports progress toward construction of a planned 120 MWh CERENERGY® battery manufacturing facility in Saxony.
Altech said the decision reflects the significance of its CERENERGY® technology, being developed in collaboration with the Fraunhofer Society, and positions sodium-chloride solid-state batteries as a potential alternative to lithium-ion technology for stationary energy storage, particularly in Europe.