Quarterly Activities Report
Perth, April 30, 2019 AEST (ABN Newswire) - Altech Chemicals Ltd (
ASX:ATC) provides the Company's Quarterly Activities Report.
Progress of Stage 1 Construction at Johor
- Stage 1 construction progressing as planned
- Site office, security post and safety systems established
- Bulk earthworks, levelling and compaction completed
- Foundation piling and foundation of workshop completed
- Steel for workshop procured and being sand blasted
- Retaining walls being established
Exclusive Mandate with Macquarie Bank for US$90 million Mezzanine Debt
- Macquarie Bank mandated as preferred Mezzanine lender
- US$90 million indicative mezzanine debt term sheet
- Mezzanine lender's final technical advisor report issued
- Extensive review of the HPA process including visit to SMS group's facility in Dusseldorf, Germany
- Positive findings with satisfactory risk management
- Detailed HPA market review being undertaken by CRU
- Legal due diligence and in-house financial modelling has commenced
HPA Coated Separators Update
- Transition to HPA coated battery separators clearly evident
- 47% increase in quarterly sales volumes from HPA coated separators
- W-Scope increasing HPA coated separator production capacity
- Leading Korean supplier of HPA coated battery separators
Investor Site Visit in Johor
- Successful inaugural investor site visit to observe HPA plant construction progress
- Stage 1 construction progress observed
- Attendees included KfW IPEX-Bank, Macquarie Bank, CIMB Bank and Petra Capital
- Various potential equity and joint venture partners in attendance
Capital Raising of A$18 million to support Stage 2 construction
- New German investors anchor A$18 million share placement
- Placement well supported by existing significant shareholders
- Stage 2 engineering and construction of HPA plant in Johor, Malaysia to now proceed
Environmental management system implemented at HPA site
- Environmental and Social Management System (ESMS) implemented
- Baseline environmental monitoring for noise, air quality and water quality
- Will service both the construction and operations phases
- Policies and procedures in place
To view the full report, please visit:
http://abnnewswire.net/lnk/ZC2NQNCG
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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