Altech Chemicals Ltd (ASX: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 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.

    

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



Link: Quarterly Activities and Cashflow Report


Related Companies

Altech Batteries Ltd
             


Related Industry Topics: