Highlights
– Binding commitments to raise $6 million at an issue price of $0.045 per share
– Strong foundations have been laid for further testing and sales of UPS batteries, obtaining project financing from CERENERGY(R), completing the 90 kWh battery prototype and assessing the 4 GWh Giga-factory for large-scale production
– Funds will be used to further advance a variety of value-added activities at the CERENERGY(R), AMPower and Silumina AnodesTM projects
The Shares and Options under the Placing will be issued beyond the available capacity of the Company under Listing Rules 7.1. It is proposed that the shares will be issued on October 20, 2025. The options represent a new class of listed securities and as such require a Prospectus to be issued before the options are granted. Altech is now working on the prospectus and aims to complete it within the coming weeks.
The placement was jointly managed by Evolution Capital and Alpine Capital. The costs associated with the placement amounted to a combined fee of 6% on all funds raised plus 60,000,000 options. Further details regarding the Placing can be found in today’s Appendix 3B.
The financing provides balance sheet flexibility for the company to achieve the following near-term milestones:
– Testing and sales of Altech UPS batteries: Initial sales are expected of advanced UPS batteries, targeting critical infrastructure customers in Europe, Australia and the United States.
– Funding Deals: acquiring project financing for CERENERGY(R)’s 120 MWh production facility in Germany, to support large-scale commercial rollout.
– News on the commercialization of pilot plants and batteries:
o Completion of the larger 90 kWh battery prototype for the CERENERGY(R) project.
o Preliminary assessment for setting up a 4 GWh Gigafactory for large-scale production.
Managing Director, Mr. Iggy Tan, said: “We are encouraged by the strong market interest in our current initiatives. This capital raise comes at an exciting time for Altech as it sets up its sales, distribution and installation infrastructure for AMPower’s Altech brand sodium nickel chloride (SNC) batteries and the commercialization of is promoting its 120MWh CERENERGY(R) battery project. With operations of the Silumina Anodes(TM) pilot plant completed and NDAs signed with major U.S. and European automakers, Altech is preparing to provide commercial samples of the product. Part of the money will also be allocated to a preliminary study for a larger 4 GWh battery facility, which will enable the will mark the next important step towards commercialization.
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialist battery technology company that has a joint venture agreement with leading German battery institute Fraunhofer IKTS (“Fraunhofer”) to develop the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) battery on to market. CERENERGY(R) batteries are the breakthrough alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion resistant; have a lifespan of more than 15 years and operate in extremely 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 increases and supply chain concerns.
The joint venture is commercializing its CERENERGY(R) battery, with plans to build a 100 MWh production facility on Altech’s site in Saxony, Germany. The facility plans to produce CERENERGY(R) battery modules to provide networked storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Commercial
Iggy Tan
Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martijn Stein
Head of Finance
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
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