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- Altech Chemicals (ATC) places its shares in a two-day trading halt as it gets ready to raise additional capital
- The high purity alumina (HPA) producer will remain halted from trade until Thursday, when full details of the fundraise are released
- Before today’s trading halt, ATC was focused on researching and developing its lithium-ion battery technology at its laboratory in Perth
- The company successfully cracked the silicon barrier during research, creating lithium-ion battery anode material with 30 per cent higher energy retention and capacity
- Shares in ATC last traded at 14 cents per share
Altech Chemicals (ATC) has placed its shares in a two-day trading halt as it gets ready to raise additional capital.
The high purity alumina producer (HPA) will remain halted from trade until Thursday when full details of the fundraise are released.
Today’s capital raise comes after ATC announced advancements in its research and development of lithium-ion battery technology at its laboratory in Perth.
The company revealed last week it had successfully cracked the silicon barrier during research, creating lithium-ion battery anode material with 30 per cent higher energy retention and capacity.
To achieve the breakthrough, Altech combined silicon particles that had been treated with its alumina coating technology with regular battery-grade graphite to produce a lithium-ion battery electrode containing a composite graphite/silicon anode.
When energised, the company said testing proved the materials held 30 per cent more capacity compared to a conventional graphite only anode material.
Along with the test work, ATC is advancing its HPA battery materials coating plant in Johor, Malaysia, with plans to open a second plant in Saxony, Germany.
Before today’s trading halt, shares in Altech Chemicals were trading at 14 cents each at 1:32 pm AEDT.
