Quarterly Activities Report
Perth, Jan 31, 2019 AEST (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Activities Report.
Global equity market headwinds
- Enquiries received re: deterioration of ATC share price
- Adversely impacted by a recent general sell-down on global equity markets
- Particularly small-cap battery materials related companies
- Declines averaging 50% of battery materials sample group
- No change to project, HPA market, or debt funding strategy
- Management continue to make solid progress with project development
Equity work stream progress
- Based on the debt-equity ratio target, further equity will be required
- Several funds, private equity and industrial groups have commenced due diligence
- Potential joint venture, partial project sell down
- Equity investment at listed level
HPA plant Development Order approved and site establishment commenced
- Development Order for Malaysian HPA plant approved
- Site establishment and mobilisation has commenced in Johor
- Stage 1 construction works to follow site establishment
HPA plant site layout and building design finalised
- HPA plant site layout and buildings design finalised
- Incorporates results from geotechnical ground survey
- Construction development order application approved
Execution of Johor and Meckering EPC contracts
- EPC contracts for the Johor HPA plant and Meckering container loading facility both formally executed
- No change to the US$ 280 million fixed price for the Johor HPA plant
- No change to the US$ 2.5 million fixed price for the Meckering container loading facility
Schedule of patent applications to protect Altech's HPA process
- Total of seven (7) Patent Applications lodged for Altech HPA Process
- Five (5) Patent Applications lodged in Australia
- Two (2) Patent Applications lodged in Malaysia
- One (1) Innovation Patent granted in Australia - currently in examination
Annual General Meeting
- AGM held on 13 November 2018
- Sufficient funds to progress Stage 1 construction activities
- All resolutions put to the meeting were passed.
Green credentials of Altech's kaolin to HPA process confirmed
- Study conducted on energy savings and greenhouse gas reduction from Altech's HPA process
- 46% reduction of greenhouse gases per tonne of HPA
- 41% reduction in energy consumption per tonne of HPA
- Reduction of 77 Mt of CO pa from transition to LED lighting
- HPA supports the lithium-ion battery and renewable energy sectors
To view the full report, please visit:
http://abnnewswire.net/lnk/1D5NSAJS
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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