Quarterly Activities and Cashflow Report
Perth, Feb 1, 2016 AEST (ABN Newswire) - Altech Chemicals Ltd (
ASX:ATC) announce the Quarterly Activities and Cashflow Report for the period ending December 2015.
Altech signs mandate with German KfW IPEX-Bank for project financing
- Exclusive project finance mandate with German KfW IPEX-Bank
- Mandate for senior debt, including German Export Credit Agency (ECA) insured debt
- Approx. US$40m of ECA cover project debt
- Balance of approx. $15m senior debt
Appointment of HPA sales & marketing manager (China)
- Mr Martin Ma appointed to develop the HPA business in China
Altech receives Letter of Interest (LOI) for German export credit cover
- LOI received from Euler Hermes for German ECA cover
- Around 55% of plant and equipment sourced from Germany & additional 10% from Europe
- Debt supported by ECA cover is typically at attractive conditions, including long tenure and low interest rates
Optimisation of kaolin beneficiation plant location
- Kaolin beneficiation plant to be located at the Company's HPA plant site in Johor, Malaysia
- Detailed design and optimisation work continues
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATC-751213.pdf
About Altech Batteries Ltd
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
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