Highlights

• CERENERGY® battery awarded the “Dark Green” rating by S&P Global Ratings, Oslo, the highest environmental classification.
• Altech acquired an additional 18.75% stake in CERENERGY® and a 25% interest in Silumina Anodes™.
• Post acquisition, Altech owns 75% of CERENERGY® and 100% of Silumina Anodes™, while Fraunhofer Institute retains a 25% stake in CERENERGY®.
• Environmental and construction approvals received for the 120MWh GridPack project in Saxony under Germany’s Federal Emission Control Act (BImSchG).
• Altech secured a EUR2.5 million funding facility from Deutsche Balaton AG, subject to shareholder approval.
• CERENERGY® battery cells passed extreme-condition safety testing, demonstrating exceptional robustness.

Altech Batteries Limited (ASX:ATC, FRA:A3Y) achieved several milestones during the quarter ended 31 March 2025. The CERENERGY® battery project gained significant momentum with major milestones in environmental accreditation, strategic acquisitions, and financing agreements.

CERENERGY® Battery Earns “Dark Green” Rating

Altech’s CERENERGY® solid-state, sodium chloride battery project has been awarded the highest green rating - “Dark Green” by S&P Global Ratings agency, Oslo, Norway.

This classification highlighted the battery’s critical role in supporting  the energy transition across the power and industrial sectors. The rating also recognised the CERENERGY® battery’s role in advancing alternatives to lithium-ion and cobalt-free batteries, supported by its fossil-free direct production method and low projected emissions.

The battery's emissions are forecast to be only one-third of those generated by conventional lithium-ion technology. This rating opens access to the Green Bond debt market, one of the key financing avenues for the CERENERGY® project.

Increased Stake in CERENERGY® and Silumina Anodes™ Projects

During the quarter, Altech executed an agreement to acquire Altech Advanced Materials AG (AAM) project stakes approved by AAM. The transaction involved the acquisition of an additional 18.75% stake in the CERENERGY® project, a 25% interest in the Silumina Anodes™ Project and associated shareholder loans.

Post-acquisition, Altech will control 75% of the CERENERGY® project and 100% of the Silumina Anodes™ Project. The Fraunhofer Institute will retain its 25% joint venture stake in CERENERGY®. ATC will issue around 532 million shares to AAM, with the transaction valued at around AU$23 million.

Post-transaction, AAM will hold a 21% stake in Altech Chemicals (ATC).

The total valuation of the two projects, based on Definitive Feasibility Studies (DFS) and risk-adjusted metrics, stands at approximately AU$77 million.

CERENERGY® Secures Environmental and Construction Approval

In the March 2025 quarter, the 120MWh CERENERGY® GridPack project in Saxony secured environmental and construction approvals under Germany’s BImSchG (Federal Emission Control Act). This approval assists in de-risking the project for future investment.

EUR 2.5 Million Funding Secured

In addition to project advancements, Altech reached an agreement with its major shareholder, Deutsche Balaton AG, to secure up to EUR 2.5 million in cash funding. Subject to shareholder approval, these funds will be provided in the form of Bearer Bonds at an annual interest rate of 7.0%.

The bonds will be secured against Altech's Malaysian land assets, with repayment expected from the eventual sale of this land. The funding facility is subject to shareholder approval on 13 May 2025.

CERENERGY® Cells Pass Extreme Testing

In a recent update, the company informed that the CERENERGY® battery has successfully passed a rigorous series of individual cell tests, demonstrating exceptional safety and durability under extreme conditions. These tests confirmed the battery's operational robustness and long-term cycling, with no damage observed during over-discharge scenarios and under C rate tests.

Similarly, overcharge tests at high voltages caused no harm to the cells. Additionally, the battery demonstrated stability and safety even at elevated temperatures.

ATC shares were trading at AU$0.039 per share at the time of writing on 28 April 2025.