Altech Chemicals’ (ASX:ALTECH) March quarter brimming with milestones across projects

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Altech Chemicals’ (ASX:ALTECH) March quarter brimming with milestones across projects

 Altech Chemicals’ (ASX:ALTECH) March quarter brimming with milestones across projects
Image source: ALTECH update of 29 April 2022

Highlights

  • Altech Chemicals witnessed a supercharged March 2022 quarter as the Company achieved significant progress on several fronts of its business operations.
  • Altech wrapped up the PFS for the Silimuna AnodesTM battery materials project with robust financials.
  • Altech announced a 47% increase in its kaolin resources after a recently concluded drilling program.

Altech Chemicals Limited (ASX:ALTECH|FRA:A3Y) is committed to revolutionising the Li-ion battery material industry with its proprietary battery materials coating technology for extending Li-ion battery capacity. Altech has released its activities report for the March quarter, highlighting its operational achievements during the period.

In one of the major highlights of the quarter, Altech announced the results of the Preliminary Feasibility Study (PFS) for its upcoming 10,000tpa silicon/graphite alumina coating plant in Saxony Germany. The Company will manufacture the battery anode material under the trademark Silimuna AnodesTM to target the burgeoning electric vehicle market of Europe.

Related read: Altech (ASX:ALTECH) riding high on excellent PFS results for German battery material plant

 

Data source: ALTECH update of 29 April 2022

At the beginning of the March quarter, Altech announced the acquisition of 14 hectares of land in the industrial area of Saxony, Germany. The Company is progressing on the engineering works for a pilot plant adjacent to the 10,000tpa plant, for which the engineering contract has been awarded to Küttner GmbH & Co. KG, a German engineering firm.

The pilot plant is designed to produce 120kg/d of coated battery material, which will be supplied to selected battery manufacturers and automakers located in Europe for product validation.

Related read: Altech Chemicals (ASX:ALTECH) unveils pilot plant design for battery anode materials

Image source: ALTECH update, 29 April 2022

MOUs with European feedstock supplier

To reduce the supply chain risk for the battery coating plant, Altech signed two MoUs, one each with SGL Carbon GmbH for graphite and Ferroglobe for the supply of silicon. The Europe-based suppliers will also ensure that environmental and other green norms of the EU region are followed in the supply chain.

Related read: Altech Chemicals (ASX:ALTECH) signs MOUs with European feedstock suppliers

In addition, the coating plant has already secured its green credentials from the Centre of International Climate and Environmental Research (CICERO). The Norway-based independent green grading body has awarded 'Medium Green' rating to the plant.

Altech progresses on Johor HPA Project financing

Altech continues to source project financing for its high purity alumina (HPA) plant in Johor, Malaysia. The Company is planning to raise ~US$144 million through a listed green bond offering, as well as additional project equity.

Altech is working with London-based Bedford Row Capital Plc and Perth-based Bluemount Capital Pty Ltd to finalise its green bond offering. Meanwhile, the Company has also completed the ESG, financing and legal due diligence for the project. More than 80 groups have registered their interest in the green bond offering.

Related read: A closer look at Altech Chemicals’ (ASX:ALTECH) HPA Johor plant

The Company is also working on additional equity component to raise additional funds for the project and has appointed US-based investment bank DelMorgan & Co to assist with the process.

Significant increase in kaolin deposit at Kerrigan

Mineral resource estimate of Kerrigan deposit (Image source: ALTECH update of 29 April 2022)

During the reporting period, ALTECH announced a significant increase of 47% in the mineral resource of the Kerrigan kaolin deposit to 125Mt. The latest update on the resource is based on the results of the latest drilling campaign on the deposit.

Recent update: Altech Chemicals (ASX:ALTECH) beefs up kaolin resource by 47% at Kerrigan

 

Image source: ALTECH update of 29 April 2022

Related read: Altech Chemicals in box seat to cash in on soaring EV demand as fuel prices heat up

Altech is targeting the high growth European battery market and through its in-house R&D, was successful in breaking the ‘silicon barrier’ in the Li-ion battery anode. The Company made a breakthrough when it managed to achieve an increase of 30% in the energy capacity of the battery, using its patented Silumina AnodesTM coating technology. The Company is undertaking further research to increase battery energy capacity beyond 30%.

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