Background to leadership change
The management change follows the determination by the company’s largest shareholder that the previous strategy was unlikely to deliver commercial results within an acceptable timeframe. Specifically, the Board of Directors determined that insufficient progress has been made in achieving project financing for the CERENERGY(R) Sodium Chloride Solid State (SCSS) Battery Project and the Silumina Anodes(TM) Battery Materials Project, despite advanced feasibility work and strong underlying technical validation as previously disclosed in the 2025 Annual Report.
The Board of Directors also decided to reassess the strategic rationale and economic value of the Company’s distribution arrangement for AMPower sodium nickel chloride UPS batteries, including the level of capital and management attention required. Although the AMPower technology enables short-term income, the Board of Directors considers a targeted capital allocation model essential.
Daniel Raihani, CEO and Managing Director stated:
“Altech has two truly world-class technologies, CERENERGY(R) and Silumina Anodes(TM), and it is imperative that we take the actions necessary now to ensure these assets reach their full commercial potential. The reality is that these projects require disciplined execution, robust partnerships and a level of financial and technical resources that cannot be delivered through incremental steps or half-measures.
“This strategic reset is necessary. It reflects an honest assessment of where the company is today and what it will take to move forward credibly. We must focus our capital, sharpen our priorities and align Altech with partners capable of advancing large-scale industrial technology.”
“I will ensure the company focuses on quickly identifying partners to enable the commercialization of these technologies, as I believe both will need larger partners to be successful. I will promptly and honestly communicate the results of these efforts as they become available.”
Refocusing strategic priorities
The immediate focus of the board is on accelerating commercialization processes, aimed at: 1. Strategic collaboration for CERENERGY(R) and Silumina Anodes(TM)
Both projects are technically advanced, with:
– A completed DFS for the 120 MWh CERENERGY(R) plant in Saxony, Germany;
– Independent “Dark Green” sustainability rating by S&P Global (significantly lower life cycle emissions than lithium-ion);
– Strong safety validation including testing under extreme conditions;
– A fully built pilot plant for Silumina Anodes(TM) producing high purity silicon anode material with alumina coating; And
– Demonstrated breakthroughs in battery performance (e.g. 30-55% higher energy density compared to graphite-only anodes).
The Board believes that these high-value assets are well suited to joint development models involving established battery manufacturers, industrial technology groups, chemical producers or government-backed programs. The top priority is to secure one or more qualified strategic partners who can contribute capital, technical resources and market access to bring both projects to commercial reality.
2. Improved access to STARK grant funding of EUR 46.7 million
The company’s CERENERGY(R) project is found to be eligible for up to 46.7 million euros in grant funding under Germany’s STARK program. Confirmation of full project funding is required to access this funding. The board will prioritize the workstreams required to unlock this government support package.
3. Portfolio rationalization and asset monetization
The new Board of Directors has initiated a strategic review of Altech’s non-core assets and business activities, including:
– The Meckering kaolin source;
– Industrial land ownership in Johor (Malaysia); And
– All supporting business structures and cost centers.
The goal is to streamline the corporate footprint, reduce expenses and realize value from assets that are not essential to the commercialization of CERENERGY(R) and Silumina Anodes(TM).
4. Assessment of the cost structure
A full cost analysis is underway to align the organization with Altech’s revised strategic path, ensuring that capital is deployed efficiently and that operating overheads reflect the company’s priorities.
Employment Conditions Director
Under his agreement, Mr. Raihani will receive:
– A fixed salary of $134,000 per year, based on two working days per week; And
– A rate of $2,000 per day for each additional day worked in addition to the two days per week.
– These remuneration conditions reflect the Company’s transition phase and immediate strategic priorities.
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
#Management #renewal #strategic #focus #Altech #Batteries