– Altech Batteries GmbH’s CERENERGY(R) battery project has received conditional binding financing approval under the German federal “STARK” economic development program.
– The approval covers a grant covering approximately 30% of the eligible CAPEX of the project, with a financing of up to 46.11 million euros.
– The funding commitment is subject to achieving full financial closure of the project by June 30, 2026 and parliamentary approval of funds from the 2026 German federal budget.
Conditional binding financing obligation
The financing is provided as part of the federal STARK program, which is supported by the Federal Ministry of Economic Affairs and Energy in collaboration with the EU. The aim of this program is to guide regions undergoing structural change towards an environmentally, economically and socially sustainable future.
With the approval of financing, the project has successfully completed the second and decisive phase of the approval process. The financing covers approximately 30% of the eligible investment costs and represents an important milestone for the construction of the planned 120 MWh CERENERGY(R) battery factory in Germany.
This decision underlines the importance of the innovative CERENERGY(R) technology, which is being developed in collaboration with the Fraunhofer Society. The sodium chloride solid-state battery offers a safe, sustainable and strategically independent alternative to lithium-ion batteries and is expected to play an important role in future stationary energy storage solutions – especially for the European market.
Mr. Daniel Raihani, Managing Director and Chief Executive Officer, commented: “Securing conditional binding financing approval of up to EUR 46.11 million under the German STARK program is an important milestone for the CERENERGY(R) project. The support reflects the strategic importance of establishing advanced non-lithium energy storage production capacity in Europe and recognizes the technical progress achieved to date in collaboration with Fraunhofer IKTS.
“Importantly, the grant significantly reduces the capital structure of the project by covering approximately 30% of eligible investment costs and provides a strong foundation as we progress towards full project financing and construction of the planned 120 MWh generation facility in Saxony, Germany.
“We remain focused on completing financial close by mid-2026 and advancing the CERENERGY(R) technology towards commercial deployment to support long-term, safe and sustainable stationary energy storage solutions for the European market.”
As usual for projects of this size, the funding commitment is subject to the final financial close of the CERENERGY(R) battery project by June 2026 and the budgetary approval of the funds in the 2026 federal budget.
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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 commercialize the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) battery. 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:
Daniel Raihani
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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