Quarterly Activities and Cash Flow Report
Perth, April 30, 2015 AEST (ABN Newswire) - Altech Chemicals Ltd (
ASX:ATC) announce the Quarterly Activities and Cash Flow Report for the period with significant highlights.
Altech appoints BFS partners and key suppliers for HPA operation
- Seatram appointed as Altech's transport and logistics services provider
- M + W Group appointed as the EPCM partner to facilitate transition from BFS to construction
- Tialoc Group (formerly Atea) appointed as composites supplier for Altech's Malaysian HPA plant
- Castle Group as mining and processing partner for Altech's Meckering aluminous clay operation Malaysian subsidiary incorporated for HPA project
- Incorporation of wholly-owned Malaysian subsidiary 'Altech Chemicals Sdn Bhd' on January 6, 2015 to support Altech's Malaysian-based activities
Altech produces competitive HPA results
- Analysis of Altech's HPA samples confirmed lower levels of impurities compared to other HPA competitors
- Results of test work incorporated into process design for further optimisation
Altech secures partner to fund bulk kaolin study
- Altech signed MOU with Dana Shipping to fund ~$100,000 bulk kaolin scoping study
- MOU provides a First Option over 10Mt of kaolin for a $1m share placement and 2% gross sales royalty
- Second Option for a further 10Mt of kaolin, for an additional $1m share placement and 2% gross sales royalty
$815,000 received from R&D advance loan facility
- Advance of $815k provides immediate funds equivalent to forecast R&D tax rebate for 2014/2015 year
- Funds will allow Altech to accelerate its BFS and ongoing R&D activities Shareholder update
- Shareholders were invited to attend an Altech presentation by managing director Mr Iggy Tan on Wednesday 1 April, 2015
- Iggy Tan discussed how the Company could benefit from new electronic products incorporating artificial sapphire such as the Apple Watch
Altech commences permitting process for HPA plant in Malaysia
- First stage of process involves the Preliminary Site Assessment (PAT)
- Altech's HPA plant is designed to meet both international and Malaysian standards
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATC-717615.pdf
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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