Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to announce that it has been advised by the Malaysian Investment Development Authority (MIDA) that the application made by its wholly owned Malaysian subsidiary has been approved under the High Technology category by the Ministry of Finance, Malaysia.
Altech Chemicals Ltd
HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.
Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.
Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) has been successful in securing senior project debt finance of US$190 million from German government-owned KfW IPEX-Bank as senior lender, and has mandated Macquarie Bank (Macquarie) as the preferred mezzanine lender.
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to announce the successful completion of an $1.8 million (before costs) share placement (Placement) and the initiation of a share purchase plan.
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) in conjunction with Altech Advanced Materials AG (AAM) is pleased to announce that the German corporate regulator BaFin (Federal Financial Supervisory Authority) has approved AAM's Capital Increase Prospectus.
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to provide information regarding the use of high purity alumina (HPA) in the manufacture of epoxy moulding compounds (EMC's) that are used in the semi-conductor industry to improve heat dissipation.
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to announce that it has today received $2 million from the Melewar Group (Melewar), being settlement by Melewar of its commitment as part of the $18 million share placement announced by the Company in April 2019.
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to announce the appointment of experienced German executive Mr. Werner Klatten to the supervisory board of Altech Advanced Materials AG (AAM)* (FRA:AMA1).
During the quarter Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) announced that all conditions precedent had been satisfied for both transactions outlined in its proposed German project equity strategy.
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to provide an update on the current status of construction activities at the Company's high purity alumina (HPA) plant site in Johor, Malaysia.
Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to advise of its attendance at InterBattery 2019, Korea's leading battery exhibition showcasing various new products and technologies related to the battery industry.