Quarterly Activities Report
Perth, July 31, 2018 AEST (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Report.
Altech received mezzanine debt term sheet
- US$ 90 million indicative mezzanine debt term sheet received
- Follows extensive preliminary project due diligence
- Global investment banking group
Final payments made for Johor site
- Final instalments for Malaysian high purity alumina (HPA) plant site now paid
- Secures the 4ha industrial land site within the Tanjung Langsat Industrial Complex
- 30 year lease with option to renew for an additional 30 years
Malaysian manufacturing licence received
- Manufacturing licence received for 4,500tpa HPA plant
- HPA project represents total investment in Malaysia of 1.2 billion ringgit
- Strong support from Malaysian Investment Development Authority (MIDA) and the Johor and Malaysian governments
Forecast surge in HPA demand from lithium-ion battery sector
- HPA joins lithium, cobalt, nickel and copper as a recognised key input to lithium-ion batteries
- Higher battery energy density is driving migration to HPA coated battery separators
- Adoption of nickel based battery cathodes underpinning transition to HPA coated separators
- Significant increase in forecast HPA powder demand to 2025
- Altech ideally positioned to capitalise on forecast increase in HPA demand
US$ 60m stream finance term sheet signed
- US$ 60 million stream finance term sheet executed
- Structured alternate financing option
- Works in conjunction with off-take sales arrangement
- Global investment firm with US$ 4.5b under management
A$ 20m capital raising to commence HPA plant construction in Malaysia
- Share placement raises A$ 17 million
- Share Purchase Plan to raise up to an additional A$ 3 million
- Funds will be used to commence construction in Johor, Malaysia
- Strong support from a range of institutional and professional investors
Stage 1 Construction Agreement executed for Johor plant
- Stage 1 works construction agreement executed with SMS group
- Works to occur in parallel with project financial close
- Bulk earthworks, retaining walls, storm water tanks, foundation piling and maintenance building
- Majority of the A$ 10 million site works credited against US$ 280 million EPC contract
HPA Site clearance completed
- Altech completes HPA site clearance works at Johor, Malaysia
- Key development milestone for Altech's HPA project
To view the full report, please visit:
http://abnnewswire.net/lnk/QJWKK798
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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