Altech Chemicals Ltd (ASX:ATC) Quarterly Activities & Cash Flow Report

Altech Chemicals Ltd (ASX:ATC) is pleased to provide the Company's Quarterly Activities & Cash Flow Report.

HIGHLIGHTS

Debt due diligence at an advanced stage

- Confirmatory pilot plant test work completed in South Africa, Australia and Germany

- HPA market study completed

- Technical due diligence at an advanced stage

- Permitting in Malaysia and Australia progressed

Fixed price EPC contract targeted for HPA plant construction

- Fixed price EPC contract framework agreed

- Warranty, performance and completion guarantees will apply

- Liquidated damages for late completion and bonus for early delivery of plant

- Significantly de-risks the HPA project for shareholders and debt providers

- Detailed engineering ongoing to determine EPC contract fixed price amount

Mining approval received for Meckering kaolin deposit

- Mining proposal approved for Altech's Meckering kaolin deposit (M70/1334)

- Important development milestone for supply of kaolin feedstock to Malaysian HPA plant

- Mining can proceed immediately when required

- Initial mining campaign of two-months to stockpile 3 years' supply of kaolin for HPA plant feedstock

Frankfurt Stock Exchange dual listing of Altech shares

- Dual listing of Altech shares on Frankfurt Stock Exchange

- Altech shares trade under the symbol "A3Y"

- Broadens Altech's European investor appeal, particularly in Germany

- Overcomes time zone and account issues for European retail investors

A$2 million share placement to cornerstone investor

- A$2 million raised via share placement to existing cornerstone investor

- Placement priced at $0.14 per share, an 8% premium

- Existing Malaysian shareholder MAA Group Berhad

- Funds applied to detailed design and engineering

HPA plant detailed engineering well advanced

- Plant detailed design and engineering well advanced

- 55 M+W Group personnel allocated to the project

- Progressing in accordance with revised schedule

- Supplier and vendor firm quotations being submitted

- Final design incorporates scope changes and recommendations from due diligence

To view the full report, please visit:
http://abnnewswire.net/lnk/06C7D76X


About Altech Batteries Ltd

Altech 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.

    

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