Altech Batteries Ltd Stock Market Press Releases and Company Profile
Board Member German Posting for Europe Initiatives
Board Member German Posting for Europe Initiatives

Perth, Feb 27, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to provide information about various European based initiatives that have recently commenced to support the Company's objective of closing the balance of finance for its Malaysian high purity alumina (HPA) project. A key remaining step includes a capital raise by Frankfurt Stock Exchange listed Altech Advanced Materials AG (AAM) of ~ EUR69.4 million (if fully subscribed) and the exercise of its option to acquire up to a 49% direct interest in Altech's HPA project for US$100 million.

Mr Uwe Ahrens, who is a member of the AAM management board and the alternate director for Altech non-executive director Tunku Yaacob Khyra, has been posted to AMM and will be based in Germany. Mr Ahrens is a German national who has resided in Malaysia for in excess of 20-years and has retained a very strong business network in Germany. He is a senior member of the management team of the Melewar group, a major shareholder of Altech.

During his posting to Germany Mr Ahrens will:

- Work closely with the other members of the AAM management board and its appointed Placement Agent (a Swiss International Investment Bank), to promote AAM's capital raise to potential institutional investors in one-to-one meetings and in group presentations (refer ASX Announcement of 5 February 2020);

- Increase engagement with emerging participants in the bourgeoning European lithium-ion battery sector and promote Altech's HPA project, the Company's 99.99% (4N) HPA product and the Altech partnership/investment opportunity. An objective is to link with one or more European based 4N HPA end-users that appreciate the advantage of a current commitment to accepting future volumes of the Company's 4N HPA product at pre-agreed or other transparent pricing, and/or directly partnering with the Company for the development of its HPA project; o Liaise with various research bodies such as the internationally renowned Fraunhofer Society for the advancement of applied research, about HPA product attributes and various test work, plus identify and capture any opportunities for Altech presented by the European Union's Battery 2030 Roadmap initiative - for details view:
https://battery2030.eu/roadmap/

Altech Chemicals managing director, Mr Iggy Tan said "from our interactions with attendees at various European battery conferences - including the Advanced Automotive Battery Conference, Wiesbaden, Germany - and from recent meetings with European banks, funds and other professional investors, it is clearly apparent that there is a new sense of urgency in Europe, and particularly in Germany, to accelerate the development of a European based lithium-ion battery manufacturing sector as a cornerstone to support a faster than previously anticipated transition to electric vehicle production.

For Altech and our proposed 4N HPA product, the current momentum in Europe presents a unique window of opportunity which we must endeavour to capitalise on. The posting of Mr Ahrens to Germany, will I believe, provide us with the additional required "boots-on-ground" to directly represent and advocate for Altech and our 4N HPA, whilst at the same time providing assistance to AAM for its impending capital raise."


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.

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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



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