Eirich ceramic mixing equipment and technology. Source: Altech Batteries
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Altech Batteries Ltd (ASX: ATC), having completed the definitive feasibility phase of its CERENERGY battery project, has moved swiftly into a share purchase plan (SPP) rollout aiming to net $5 million to develop the project.

The company said it will also use some of the funds from the SPP for its Altech’s Silumina Anodes battery materials project.

Shares will be issued at $0.065 with one free attaching option for every two shares acquired. These options can be exercised at $0.08 a share, with an expiration date of 30 April 2026.

Completed on March 20, Altech’s definitive feasibility study (DFS) for CERENERGY revealed a net present value (NPV) of €169 million and free cash flow of €48 million per annum.

Altech’s plan is to construct a 120 MWh facility in Saxony, Germany, to produce CERENERGY sodium chloride solid state batteries which will have a life span of 15 years.

The facility aims to roll out 1MWh GridPacks for the European grid energy market at the cutting edge of also developing materials for a lithium-ion battery future by successfully incorporating silicon in graphite anodes that will covet higher energy density batteries.

Development of the project is a work in progress coming to fruition as part of Altech’s joint venture with the country’s battery institute Fraunhofer IKTS.

Altech CEO Iggy Tan said that moving into a funding phase was an exciting development following the production framework provided by the DFS.

“The results of the Definitive Feasibility Study reinforce the economic soundness and
potential of our CERENERGY project,” he said.

“We are excited about the positive trajectory and are fully committed to advancing to the funding phase to realise this innovative venture.

“The project’s economics remain compelling, with an EBITDA margin of around 47%, even at its initial production capacity.”

Altech has been trading at 6.5c.

ATC by the numbers
More From The Market Online

The High Fiving ASX oil and gas stock star champions are…

The top five ASX oil and gas companies over the past five years were Pancontinental, Melbana,…
The Market Online Video

Market Close: ASX closes flattish as traders shrug off new NASDAQ record

The ASX200 closed just 12 points down (0.15%) as the local markets shrugged off another record…
The Market Online Video

Market Update: ASX dips 0.2% with energy in focus in Perth

It’s been a busy day at the Australian Energy Producers conference in Perth, where the morning’s guest speakers included resources minister Madeleine King

Havilah drills molybdenum up to 0.21% and gold at 4.79 g/t at SA’s Kalkaroo

Havilah Resources Ltd has made a significant discovery of molybdenum through drilling at its Kalkaroo deposit…