Annual Report to Shareholders
Perth, Oct 19, 2022 AEST (ABN Newswire) - This year enabled Altech Chemicals Ltd (
ASX:ATC) (A3Y:FRA) to aggressively move forward with its patented Silumina Anodes(TM) technology, as well as progressing with securing bond and equity project finance for its HPA production plant in Malaysia.
In addition to this, Altech announced that it had executed a Joint Venture Shareholders' Agreement with world-leading German battery institute Fraunhofer IKTS ("IKTS") to commercialize IKTS' revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. Altech, inclusive of associated entity Altech Advanced Materials AG, will be the majority owner at 75% of the JV company, which will commercialize a 100 MWh project to be constructed on Altech's land in Schwarze Pumpe, Germany. The SAS CERENERGY(R) battery uses common table salt and ceramic solid-state technology.
The principal activities of the Company during the financial year were:
1. Achievement of game changing proprietary technology by cracking the "silicon barrier" and producing the Silumina Anodes(TM) lithium-ion battery anode material with 30% higher energy retention and capacity than conventional graphite only anodes.
2. Commencement of construction by Kuttner GmbH & Co on the Silumina Anodes(TM) pilot plant that will produce 120kg per day (~37,000 kg per year) of the Silumina Anodes(TM) product for product qualification with end users, that will assist in securing an offtake agreement for the full-scale plant.
3. Finalising the Preliminary Feasibility Study, with outstanding economics, for the full-scale plant to produce 10,000tpa of Silumina Anodes(TM) in Saxony, Germany. Altech acquired an ~14Ha industrial site in Saxony, Germany that is an ideal location for the full-scale plant.
4. Continuing the process of securing the green bond and project level equity to finance the remaining construction for the Johor, Malaysia high-purity alumina production plant.
*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/20FP0ITG
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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