Altech Batteries Ltd Stock Market Press Releases and Company Profile
German Equity Strategy Update - Altech Advanced Materials
German Equity Strategy Update - Altech Advanced Materials

Perth, Oct 11, 2019 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to provide an update on the progress of structuring activities in relation to its German project equity strategy, which was announced on 18 July 2019.

Youbisheng Green Paper AG, the Frankfurt stock exchange listed company in which Altech has acquired a 29% equity interest, has now officially changed its name to Altech Advanced Materials AG (AAM). The listing code for AAM on the Frankfurt exchange is AMA1. A new web site for the company has been established and can be accessed at www.altechadvancedmaterials.com.

AAM is aiming to raise approximately of US$100 million, which if successful would position it to acquire up to a 49% interest in Altech's high purity alumina (HPA) project. Initially, AAM intends to secure up to EUR69.4 million (US$75.7 million) via a concurrent rights issue and external share placement ("RIEP"). AAM has advised Altech that a draft RIEP prospectus was lodged with the German regulator (BaFin - Federal Financial Supervisory Authority) during September 2019, and that feedback from BaFin's review is being incorporated into a final version of the prospectus. Discussions with potential German lead managers to co-ordinate the RIEP are continuing and AAM has advised that it is aiming to complete the REIP by early December 2019.

An initial roadshow to showcase Altech's HPA project and the investment opportunity for AAM was conducted in Germany during September 2019. The opportunity for potential investors to gain direct exposure to Altech's HPA project via a shareholding in AAM - a Frankfurt listed public company - was well received. Audiences were impressed with the US$190m of committed senior debt funding from German government-owned KfW IPEX-Bank; the support of Euler Hermes - the German government export credit agency; the award of the contract for construction of the HPA plant to SMS group of Dusseldorf, Germany; and the Company's already significant German shareholder base (approximately 20%) comprising Deutsche Balaton AG, Delphi, SMS Investments and various other German and European retail shareholders.

AAM's option to acquire up to a 49% direct interest in Altech's HPA project is an important first step in a longer-term strategy for both Altech and AAM to provide their respective shareholders with exposure to both the HPA market generally, and ultimately to the growing European electric vehicle / lithium-ion battery market. This longer-term vision is demonstrated via the recent announcement by Altech of an invitation from the state government of Saxony, Germany, proposing that it consider the construction of a second HPA plant in the state (see ASX Announcement of 18 September 2019).
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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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