Altech Batteries (ASX: ATC) engages KPMG for financing strategy of German battery plant

June 13, 2024 07:06 PM PDT | By Sonal Goyal

Altech Batteries (ASX: ATC) engages KPMG for financing strategy of German battery plant — Image source: Company update

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Highlights

KPMG has been appointed to assist in securing financing for constructing CERENERGY^® battery plant in Germany.

KPMG will also provide services on public grant and subsidy programs.

All financing options will be considered, including green bonds, grants, project equity, and subsidies.

ATC aims to secure sales offtake agreements and source financing to build the plant.

Altech Batteries (ASX: ATC) has announced the appointment of KPMG, an international corporate advisory firm, to assist in securing funds for constructing its 120MWh CERENERGY^® battery plant in Germany. This strategic move follows the recent announcement of the Definitive Feasibility Study related to the project, marking a significant milestone in the company’s journey toward revolutionising energy storage solutions.

KPMG's Role in the Project

As the financial adviser to the company, KPMG will provide services related to public grant and subsidy programs, and identify suitable financing strategies such as green bonds, grants, project equity, and subsidies.

With an international presence and advisory experts in 143 countries, KPMG will help ATC reach a global audience for financing the CERENERGY^® battery project.

Securing Sales Offtake and Financing

Altech Batteries is looking to secure sales offtake agreements for its project and source financing to construct the plant. These agreements will be crucial in ensuring the plant's commercial viability and long-term success.

The facility will produce CERENERGY® battery modules, which will offer grid storage solutions to the market. This project aligns with global efforts to enhance energy storage capabilities and support the integration of renewable energy sources into the grid.

ATC shares were trading at AU$0.055 apiece at the time of writing on 14 June 2024.

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