Quarterly Activities Report
Perth, May 1, 2018 AEST (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Activities Report.
HIGHLIGHTS
Commitment and final terms executed for US$190m debt facility
- Loan terms documentation executed with KfW IPEXBank
- Total debt package US$190 million
- US$170m at long tenure and attractive terms (German government export credit cover)
- US$20m at commercial terms (5-year repayment)
Final stage of project financing advanced
- US$190 million senior debt package formalised with KfW IPEX-Bank
- Final Investment Decision Study (FIDS) due diligence data room established
- Mezzanine debt work stream commenced
- Joint venture option advanced
- Project equity work stream to target quality equity partners
Purchase of freehold land over Meckering mining lease completed
- Purchase of freehold land covering mining lease M70/1334
- Ownership secures mining access
- Meckering kaolin mine fully permitted
Malaysian manufacturing licence approved
- Manufacturing licence approved for Altech's Johorbased 4,500tpa high purity alumina (HPA) plant
- Target "Pioneer Status" investment incentive (5-year company income tax exemption)
- Altech's HPA project represents RM1.2 billion investment for Malaysia
Altech lodges new patent application
- New provisional patent application lodged with the Australian Patent Office
- Incorporates finished product technology
- Global Intellectual Property search completed
- Altech's kaolin-to-HPA HCl-based processing technology is novel
- There is no risk of patent infringement
- Altech's patent application affords international protection for its HPA production method
To view the full report, please visit:
http://abnnewswire.net/lnk/104UV5OR
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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