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

Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Activities & Cash Flow Report for the period ending 30 June, 2017.

HIGHLIGHTS

- SMS group appointed as EPC contractor for Malaysian HPA plant

o Leading German global engineering and construction firm

o Prior experience in HPA processing

o Additional throughput, process and quality guarantees

- US$100,000 share subscription by SMS group

o Initial share subscription of US$100,000 by EPC contractor SMS group

o Demonstrates support and confidence for HPA project

o Project equity or subordinated debt support at project financial close

- HPA project due diligence update

o Update on project finance due diligence activities, nearing completion

o Independent due diligence reports are extensive and detailed

o No fatal flaws identified

- $1.85 million raised via share purchase plan and placement

o $1.85 million raised via SPP and share placement

o Issue price of $0.11 per share (5% discount to 5 day VWAP)

o >250 shareholders participated

- Completion of $2 million share placement to existing cornerstone investor

o $2 million received from share placement to existing cornerstone investor MAA Group Berhad

o Funds applied to detailed design and engineering

o Shares issued at $0.14 per share

- Completion of EPC data transfer to SMS group

o Transfer of engineering data to SMS group's EPC team successfully completed

o Key engineering personnel remain available to assist SMS's team

o High quality engineering work by previous contractor

o Malaysian site visit conducted by SMS

o EPC fixed price estimate well advanced

To view the full report, please visit:
http://abnnewswire.net/lnk/F7M1FBG4


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.

    

Related Companies

Altech Batteries Ltd