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Altech Batteries (ASX:ATC, FRA:A3Y) Shares Gains Momentum with Third Offtake Agreement

December 18, 2024 12:33 PM AEDT | By Sonal Goyal
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Highlights

  • Altech Batteries GmbH signed a Heads of Agreement (HOA) with Axsol GmbH.
  • Altech will deliver CERENERGY® battery technology, starting in Q1 2027, following the production plant is commissioned.
  • The partnership includes a multi-system battery management system (BMS) development.
  • ATC shares rose by 4.65% to AU$0.045 on 18 December 2024.

Shares of Altech Batteries Limited (ASX:ATC, FRA:A3Y) gained 4.65% to AU$0.045 apiece in morning trade on 18 December 2024 asthe company announced that Altech Batteries GmbH has signed its third offtake Heads of Agreement (HOA) with Axsol GmbH. Under this strategic agreement, Altech will supply the western defence industry with its advanced CERENERGY® battery technology. Deliveries are forecasted to begin in the first quarter of 2027 after the commissioning of the production plant.

Under the arrangement, the companies will collaborate on the development of a multi-system BMS.

 

 

 


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