Altech Batteries (ASX: ATC) Launches AU$5M SPP to fuel CERENERGY® and Silumina AnodesTM Projects - Kalkine Media

April 17, 2024 12:06 PM AEST | By Sonal Goyal

Altech Batteries (ASX: ATC) Launches AU$5M SPP to fuel CERENERGY® and Silumina AnodesTM Projects — Image source: Company update

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Highlights

Through the SPP, Altech aims to raise AU$5 million at an issue price of AU$0.065 apiece.

The proceeds will support its CERENERGY® battery project and the Silumina AnodesTM battery materials project.

The SPP follows positive outcomes from the definitive feasibility study (DFS) for the CERENERGY® project.

Altech is making progress in securing financing and offtake agreements for the CERENERGY® project

Altech Batteries Limited (ASX: ATC) has launched a share purchase plan (SPP) aiming to raise up to AU$5 million. The SPP follows the successful conclusion of the DFS for the CERENERGY® project in March 2024.

The study revealed that an estimated investment of €156 million would result in a net present value of €169 million and an annual free cash flow of €48 million. Additionally, the project’s estimated internal rate of return (IRR) is 19%, with a payback period of 3.7 years. Details here.

Building on the DFS findings, Altech is progressing with efforts to secure financing for the construction of the plant for the CERENERGY® battery project that is planned to be developed on Altech's property in Germany.

ATC shares traded at AU$0.067 apiece at the time of writing on 17 April 2024.

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