Altech Batteries Ltd Stock Market Press Releases and Company Profile
Security Purchase Plan
Security Purchase Plan

Perth, Dec 6, 2019 AEST (ABN Newswire) - Altech Chemicals Ltd (googlechartASX:ATC) (googlechartA3Y:FRA) has been successful in securing senior project debt finance of US$190 million from German government-owned KfW IPEX-Bank as senior lender, and has mandated Macquarie Bank (Macquarie) as the preferred mezzanine lender.

The indicative and non-binding mezzanine debt term sheet (currently progressing through due diligence) is for a facility amount of up to US$90 million and throughout this year the Company has focussed on managing the due diligence process. Macquarie appointed an independent technical advisor, Worley Parson, to conduct the project technical review which was completed over a period of 6 months and concluded with a positive report on the project and processing flowsheet.

Following the technical review Macquarie appointed CRU, a London commodities research house, to conduct a HPA market review. This detailed investigation into the HPA market took 3 months and the results showed significant growth expected for HPA demand and a near term supply deficit.

To view the Purchase Plan, please visit:
https://abnnewswire.net/lnk/Y779YHS7


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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