Altech raises funds for German battery plans
PERTH (miningweekly.com) – Battery technology company Altech Batteries has announced plans to raise A$15.8-million in a share placement and pro-rata entitlement offer to fund its CERENERGY and Silumina anode projects in Germany.
The capital raise will consist of a single tranche placement of more than 42.85-million shares, at a price of 7c each, raising A$3-million from sophisticated and professional investors.
The company will also undertake a partially underwritten non-renounceable one-for-eight entitlement offer, also priced at 7c a share, to raise a further A$12.8-million. The entitlement offer will open on July 21 and close on August 4.
“We are delighted with the outcome of the capital raising. Altech’s major shareholders, Deutsche Balaton Aktiengesellschaft and Delphi Unternehmensberatung Aktiengesellschaft, have agreed to partially underwrite the entitlement offer for $6.7-million,” said Altech MD Iggy Tan.
“Having the support of these German shareholders is very pleasing. The capital raising has come at an exciting time for Altech, as we progress with the commercialisation of the 100 MWh CERENERGY battery project, as well as near completion of our Silumina anodes pilot plant.”
Funding would go towards the definitive feasibility study for the CERENERGY project, as well as the fabrication of two 60 kWh battery prototypes and Fraunhofer joint venture payments, as well as to finalising the construction and commissioning of the Silumina anodes pilot plant and the definitive feasibility study for this project.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
