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

2 min read | December 17, 2024 08:33 PM EST | By Sonal Goyal

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

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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 as the 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.

Axsol Streamlines CERENERGY® Battery Market Entry

As a certified supplier to NATO and select Western allied forces, Axsol’s involvement will streamline qualification procedures. It is also expected to facilitate early market entry and sales of CERENERGY® batteries. Further, Altech will work closely with Axsol to integrate various battery technologies and energy sources using Axsol’s advanced energy management system, “AXOS.” A confidential price per GridPack has been agreed upon.

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