Highlights
- Share Purchase Plan (SPP) offered to raise working capital for CERENERGY(R) battery and Silumina AnodesTM battery materials projects
- SPP at an issue price of
- Options will be exercisable at
- Funds applied to commissioning of, and equipment for, Silumina AnodesTM pilot plant as well as to fabricate two CERENERGY(R) ABS60 60KWh battery packs
- SPP follows excellent Definitive Feasibility Study for CERENERGY(R) project finalised on
- Altech continues to move forward with finance and offtake for CERENERGY(R) project
The SPP follows the excellent Definitive Feasibility Study (DFS) for the CERENERGY(R) project which was finalised on
CEO
The project's economics remain compelling, with an EBITDA margin of around 47%, even at its initial production capacity. This aligns with the projected growth of the grid storage market, estimated at a remarkable 28% Compound Annual Growth Rate (CAGR). Additionally, the project offers a low lifetime levelised cost of storage at
Altech is providing all shareholders with the right to participate in a capital raising via an SPP to help fund further activities relating to the CERENERGY(R) battery project as well as the Silumina Anodes TM battery materials project. An SPP does not incur any brokerage, commission or other transaction costs for shareholders participating, and all funds received by Altech are able to be deployed directly by the Company to commercialise its technology. Altech encourages you to participate in this SPP and to continue the exciting journey that Altech is embarking on with its uniquely patented battery technology and battery materials.
Altech is targeting the grid storage market, which is an industry that is expected to have a compound annual growth rate of 28%, as the world transitions from a fossil fuel economy to a renewable energy economy.
Massive scale up and growth of both renewable energy production, combined with grid battery storage, is required to meet the green targets implemented by governments and industry around the world. Altech believes that the grid storage market is a very lucrative niche and is racing to get the CERENERGY(R) battery into production.
The shares issued pursuant to the SPP will be at an issue price of
Further details in relation to the SPP, including timing and terms and conditions, are included in the Prospectus available to all eligible shareholders.
About
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in
Contact:
Corporate
Managing Director
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Chief Financial Officer
Tel: +61-8-6168-1555
Email: info@altechgroup.com
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