Altech Batteries Ltd Stock Market Press Releases and Company Profile
Malaysian Manufacturing Licence Received
Malaysian Manufacturing Licence Received

Perth, June 1, 2018 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to announce that it has now received the official manufacturing licence from the Malaysian government for the Company's proposed 4,500tpa high purity alumina (HPA) plant in Johor, Malaysia.

Highlights

- Manufacturing licence received for 4,500tpa HPA plant

- Final instalments paid for Malaysian HPA plant site

- Project continues to progress

In February 2018 the Malaysian Investment Development Authority (MIDA) advised the Company that its application for a manufacturing licence had been approved and that the licence would be issued subject to the submission of various additional documents, including a letter of 'No Objection' from the Johor state government. The Company received a letter of 'No Objection' from the Johor State Investment Centre during the quarter and has now received the manufacturing licence for its proposed HPA plant.

On 22 May 2018 the Company announced that it had paid the final instalments totalling AU$5.1 million for the HPA plant site in Johor. These final payments secured the site and the Company will receive the deed of title (30 year lease, with the option to renew for an additional 30 years) from the Johor state government in due course.

Altech is delighted with the support that it is receiving for its HPA project from MIDA, Johor Corporation, the state of Johor and the Malaysian federal government. The prompt issuance of the letter of 'No Objection' and Altech's manufacturing licence is testament to support for the project, which will represent a total investment in Malaysia of approximately 1.2 billion ringgit.

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About Altech Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech 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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Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



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