- Altech Chemicals (ATC) executes a final construction contract for the Silumina Anodes pilot plant with German engineering company Küttner, following a visit to Germany
- Küttner will commence the procurement process and construction when equipment begins to arrive at the back-end of this year
- The pilot plant is designed to produce 120kg per day of battery anode material coated in Altech’s Silumina Anodes product
- The company says it is well funded to construct and complete the pilot plant with $11.5 million in the bank as of the end of the March quarter
- ATC shares are trading in the grey at five cents each at 1:23 pm AEST
Altech Chemicals (ATC) has executed a final construction contract for the Silumina Anodes pilot plant with German engineering company, Küttner.
The contract follows Altech’s senior management undertaking a site visit in Saxony, Germany.
Küttner has completed the final plant engineering design and cost estimation for the plant and will commence the procurement process and construction when equipment begins to arrive later this year.
The pilot plant is designed to produce 120kg per day of Altech’s Silumina Anodes-coated battery anode material, which will be for selected European battery manufacturers and auto-makers.
Altech said the pilot plant will be established in Dock3, next-door to the company’s land in Schwarze Pumpe Industrial Park.
The company is well funded to construct and complete the pilot plant with $11.5 million in the bank at the end of March.
The pilot plant is expected to cost around $7.1 million, of which $5.3 million will be funded by Altech (75 per cent owner) and A$1.7 million will be funded by Altech Advanced Materials AG (25 per cent owner).
On the market, ATC shares were in the grey at five cents each at 1:23 pm AEST.