Altech Batteries (ASX: ATC, FRA: A3Y) jumps 8% on CERENERGY® ABS60 BatteryPack Progress

July 16, 2024 01:21 PM AEST | By Sonal Goyal

Altech Batteries (ASX: ATC, FRA: A3Y) jumps 8% on CERENERGY® ABS60 BatteryPack Progress — Image source: Company update

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Highlights

ATC shares jumped 8% on 16 July 2024, driven by progress in developing CERENERGY® ABS60 BatteryPack prototypes.

All 240 CERENERGY® cells for the first ABS60 BatteryPack prototype have been fabricated and tested.

Significant design enhancements to the battery's positive probe have led to faster charging and discharging times, promising reduced unit costs.

Excellent results achieved from improved cell electrode design.

ABS60 BatteryPack with 60 KWh capacity will be assembled after the completion of welding.

Shares of Altech Batteries Limited (ASX: ATC, FRA: A3Y) rose approximately 8% on 16 July 2024, following an update on the progress of CERENERGY® ABS60 BatteryPack prototypes. The company has completed fabrication, assembly, and initialisation of all 240 cells for the first ABS60 BatteryPack Prototype at Fraunhofer IKTS Hermsdorf’s pilot plant.

To ensure uniform distribution of the cathode material, rigorous testing was conducted at multiple stations within Fraunhofer IKTS facilities in Hermsdorf and Arnstadt. Significant improvements were made to the cell electrode design during the development of the two BatteryPack prototypes, particularly in the positive probe design aimed at enhancing energy capacity while reducing nickel content.

The updated "V2" design of the positive probe has resulted in slightly faster charging and discharging times, contributing to lower unit costs for the batteries. Testing results have been highly positive, with most cells demonstrating higher-than-expected energy capacities, validating the effectiveness of the selected electrode design.

All cells have been manufactured as per series design specifications and optimised processes. This achievement marks the company's best cells to date, meeting the specified specifications.

Image source: Company update

ATC shares were trading at AU$0.054 apiece at the time of writing on 16 July 2024.

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