Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Activities Report.

Progress of Stage 1 Construction at Johor

- Stage 1 construction progressing as planned

- Site office, security post and safety systems established

- Bulk earthworks, levelling and compaction completed

- Foundation piling and foundation of workshop completed

- Steel for workshop procured and being sand blasted

- Retaining walls being established

Exclusive Mandate with Macquarie Bank for US$90 million Mezzanine Debt

- Macquarie Bank mandated as preferred Mezzanine lender

- US$90 million indicative mezzanine debt term sheet

- Mezzanine lender's final technical advisor report issued

- Extensive review of the HPA process including visit to SMS group's facility in Dusseldorf, Germany

- Positive findings with satisfactory risk management

- Detailed HPA market review being undertaken by CRU

- Legal due diligence and in-house financial modelling has commenced

HPA Coated Separators Update

- Transition to HPA coated battery separators clearly evident

- 47% increase in quarterly sales volumes from HPA coated separators

- W-Scope increasing HPA coated separator production capacity

- Leading Korean supplier of HPA coated battery separators

Investor Site Visit in Johor

- Successful inaugural investor site visit to observe HPA plant construction progress

- Stage 1 construction progress observed

- Attendees included KfW IPEX-Bank, Macquarie Bank, CIMB Bank and Petra Capital

- Various potential equity and joint venture partners in attendance

Capital Raising of A$18 million to support Stage 2 construction

- New German investors anchor A$18 million share placement

- Placement well supported by existing significant shareholders

- Stage 2 engineering and construction of HPA plant in Johor, Malaysia to now proceed

Environmental management system implemented at HPA site

- Environmental and Social Management System (ESMS) implemented

- Baseline environmental monitoring for noise, air quality and water quality

- Will service both the construction and operations phases

- Policies and procedures in place

To view the full report, please visit:
http://abnnewswire.net/lnk/ZC2NQNCG


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 Report


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