Altech Batteries Ltd Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Perth, May 1, 2018 AEST (ABN Newswire) - Altech Chemicals Ltd (googlechartASX:ATC) provides the Company's Quarterly Activities Report.

HIGHLIGHTS

Commitment and final terms executed for US$190m debt facility

- Loan terms documentation executed with KfW IPEXBank

- Total debt package US$190 million

- US$170m at long tenure and attractive terms (German government export credit cover)

- US$20m at commercial terms (5-year repayment)

Final stage of project financing advanced

- US$190 million senior debt package formalised with KfW IPEX-Bank

- Final Investment Decision Study (FIDS) due diligence data room established

- Mezzanine debt work stream commenced

- Joint venture option advanced

- Project equity work stream to target quality equity partners

Purchase of freehold land over Meckering mining lease completed

- Purchase of freehold land covering mining lease M70/1334

- Ownership secures mining access

- Meckering kaolin mine fully permitted

Malaysian manufacturing licence approved

- Manufacturing licence approved for Altech's Johorbased 4,500tpa high purity alumina (HPA) plant

- Target "Pioneer Status" investment incentive (5-year company income tax exemption)

- Altech's HPA project represents RM1.2 billion investment for Malaysia

Altech lodges new patent application

- New provisional patent application lodged with the Australian Patent Office

- Incorporates finished product technology

- Global Intellectual Property search completed

- Altech's kaolin-to-HPA HCl-based processing technology is novel

- There is no risk of patent infringement

- Altech's patent application affords international protection for its HPA production method

To view the full report, please visit:
http://abnnewswire.net/lnk/104UV5OR


About Altech Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech 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.

https://twitter.com/altechbatteries https://www.facebook.com/AltechChemicals/ https://au.linkedin.com/company/altechbatteries abnnewswire.com 


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



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 9) (Last 30 Days: 33) (Since Published: 4443)