{"id":8450,"date":"2024-04-17T06:34:52","date_gmt":"2024-04-17T06:34:52","guid":{"rendered":"https:\/\/economicherald.net\/?p=8450"},"modified":"2024-04-17T06:34:52","modified_gmt":"2024-04-17T06:34:52","slug":"salt-bae-altech-to-raise-5m-for-groundbreaking-battery-tech-based-off-common-table-salt","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8450","title":{"rendered":"Salt Bae: Altech to raise $5m for groundbreaking battery tech based off common table salt"},"content":{"rendered":"

Share Purchase Plan (SPP) initiated to raise up to $5m for CERENERGY\u00ae battery and Silumina Anodes projects
\nThe battery tech uses regular table salt
\nFunds to be used for commissioning Silumina pilot plant and fabricating CERENERGY\u00ae ABS60 battery packs<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: Altech Batteries is looking to raise $5m to progress the development of its game-changing CERENERGY\u00ae and Silumina battery projects to feed into the European EV market.<\/strong><\/p>\n

Altech Batteries (ASX:ATC)<\/strong><\/a> has launched a share purchase plan to raise up to $5m for its groundbreaking CERENERGY\u00ae battery and Silumina Anodes projects, marking a significant milestone in its journey towards revolutionising the battery industry.<\/p>\n

As governments and industries worldwide prioritise green initiatives, Altech says it\u2019s poised to play a pivotal role in driving the adoption of sustainable energy solutions \u2013 using regular and abundant table salt.<\/p>\n

The company\u2019s focus on the grid storage market \u2013 which is expected to witness a remarkable 28% CAGR \u2013 aligns with global efforts to transition towards renewable energy sources.<\/p>\n

It\u2019s now forging ahead with plans to secure financing for the construction of its 120MWh CERENERGY\u00ae solid state sodium chloride (salt) battery plant, slated to be built on its landholding in Germany.<\/p>\n

In tandem, Altech is also in the process of commercialising a 8000tpa silicon alumina coating plant to supply its Silumina Anodes product to the burgeoning European EV market.<\/p>\n

\u00a0<\/p>\n

Funding to drive renewable future<\/strong><\/h2>\n

In the wake of the recently finalised definitive feasibility study<\/strong><\/a> for the CERENERGY\u00ae project \u2013 which boasts an impressive NPV9 of \u20ac169m and free cash flow of \u20ac48m a year \u2013 ATC is positioning itself for significant growth.<\/p>\n

As part of the $5m cap raise, shares will be issued at 6.5c per share and one free attaching option for every two shares acquired, exercisable at 8c per share.<\/p>\n

Funds raised will go towards commissioning of the Silumina Anodes pilot plant and fabricating two CERENERGY\u00ae ABS60 60KWh battery packs.<\/p>\n

Altech CEO Iggy Tan says results of the DFS reinforce the economic soundness and potential of the CERENERGY\u00ae project.<\/p>\n

\u201cWe are excited about the positive trajectory and are fully committed to advancing to the funding phase to realise this innovative venture,\u201d Tan says.<\/p>\n

\u201cThe project\u2019s economics remain compelling, with an EBITDA margin of around 47%, even at its initial production capacity.<\/p>\n

\u201cThis aligns with the projected growth of the grid storage market, estimated at 28% CAGR.<\/p>\n

\u201cAdditionally, the project offers a low lifetime cost of storage at \u20ac0.06\/kWh, compared to \u20ac0.149\/kWh for lithium-ion batteries, further enhancing its competitive advantage.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Altech Batteries, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Salt Bae: Altech to raise $5m for groundbreaking battery tech based off common table salt<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Share Purchase Plan (SPP) initiated to raise up to $5m for CERENERGY\u00ae battery and Silumina Anodes projects The battery tech uses regular table salt Funds [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8451,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nSalt Bae: Altech to raise $5m for groundbreaking battery tech based off common table salt - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=8450\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salt Bae: Altech to raise $5m for groundbreaking battery tech based off common table salt - 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