Altech Chemicals (ASX:ATC) acquires land for European battery material plant

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Altech Chemicals (ASX:ATC) acquires land for European battery material plant

 Altech Chemicals (ASX:ATC) acquires land for European battery material plant
Image source: Saxony State Minister with Altech’s German director Uwe Ahrens (Image source: ATC update, 20 January

Highlights

  • Altech Chemicals acquires land for housing battery materials coating plant.
  • Altech acquired ~14 hectares of an industrial site in Saxony, Germany.
  • The proposed plant would supply alumina-coated silicon/graphite anode materials to lithium-ion battery manufacturers.
  • The site is strategicly located to cater to European lithium-ion battery and EV markets.

Speciality alumina technology and production company Altech Chemicals Limited (ASX:ATC|FRA:A3Y) has launched in to 2022 with the achievement of a critical milestone. Altech has acquired ~14 hectares of land within the Schwarze Pumpe Industrial Park in Germany for the construction of the proposed 10,000tpa high purity alumina (HPA) battery material coating plant.

The industrial park is located in the German city of Saxony, home to several German and global automobile majors including Volkswagen, BMW, Porsche, Daimler and Tesla.

Related read: Opportunities galore at Altech Chemicals (ASX:ATC) in 2022

A glimpse of land handover ceremony held in Dock3, adjacent to the land acquired by Altech (Image source: ATC update, 20 January 2022)

Altech Chemicals, via its 75%-owned subsidiary Altech Industries Germany GmbH (AIG), has acquired the industrial site. A Pre-feasibility Study (PFS) is already underway for the construction of the battery material coating plant.

The Norwegian ‘green’ rating agency CICERO has already accredited the manufacturing plant with the ‘Medium Green’ status, facilitating Altech to access funds through green bonds.

Related read: Altech’s (ASX:ATC) German battery plant project bags green status

These latest developments, as well as the acquisition of the land, is anticipated to accelerate the development of the proposed plant. The land handover ceremony marked the presence of several dignitaries, including, Mr Thomas Schmidt, Saxony State Minister for Development, Mayor of Spreetal municipality, and Lady Major of Spremberg.

Attendees also included Board Members from Altech, industrial dignitaries and several local politicians.

Dignitaries at the land handover ceremony (Image source: ATC update, 20 January 2022)

Recent update: 'Silicon Code' decoded: Altech Chemicals' breakthrough to improve battery performance by 30%

Altech chooses the plant site location strategically

The proposed plant would manufacture alumina-coated silicon/graphite anode materials for lithium-ion battery manufacturers and the EV industry. Altech will use its proprietary coating technology to manufacture battery coating material with an annual capacity of 10,000tpa. Altech believes that the location of the plant is well positioned to cater to European battery markets.

Previously, ATC had advised that it had signed a Memorandum of Understanding (MoU) with two Europe-based graphite and silicon suppliers. The MoUs are designed to lower the supply risk of raw materials for the proposed plant. The suppliers follow stringent European environmental laws, which further lower the risk on the supply chain.

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

The industrial park contains robust infrastructure and is well connected by rail, road, with existing electricity and natural gas networks. Saxony is a renowned German auto hub and is situated in the region with a strong track record for engineering training ground and research facilities. The Fraunhofer Institute for Electronic Nano-Systems is also located in Saxony, which is focused on HPA nanotechnology in energy storage.

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