Altech Batteries Secures Third Offtake Agreement for Cerenergy GridPack System

3 min read | December 18, 2024 12:45 PM AEDT | By Team Kalkine Media

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Altech Batteries Secures Third Offtake Agreement for Cerenergy GridPack System — Image source: shutterstock

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Highlights

Altech Batteries (ATC) secures an exclusive distribution agreement with Axsol for its battery system.

Collaboration focuses on developing a multi-system battery management solution.

Early market entry facilitated by Axsol’s connections in NATO-aligned industries.

Altech Batteries (ASX:ATC) has entered an exclusive distribution agreement with Axsol, a German renewable energy company, to supply its innovative Cerenergy GridPack battery storage system. This marks the third offtake agreement for the Cerenergy system this year, demonstrating its growing market traction. The deal sets minimum purchase targets of 10 megawatt-hours by 2027, 20MWh by 2028, and 30MWh annually from 2029 to 2031.

Axsol’s extensive experience in renewable energy solutions strengthens this collaboration, opening pathways for integrating Cerenergy batteries into defense-related and commercial applications.

Advanced Battery Management Development

In addition to the distribution deal, Altech will collaborate with Axsol to create a multi-system battery management system. Using its proprietary AKOS energy management technology, the company aims to enable efficient integration of multiple energy supply sources and battery technologies.

The future of energy storage systems is expected to rely heavily on smart integration of diverse technologies to cater to specific applications. This partnership leverages Altech’s expertise in advanced battery management, ensuring reliability and cost-effectiveness in various sectors.

Strategic Market Access

Axsol’s credentials as a certified supplier to NATO and allied Western forces play a critical role in this partnership. These connections facilitate streamlined qualification processes and early market entry for Altech’s Cerenergy GridPack system. This collaboration positions the battery system for deployment in defense-related sectors, a high-demand market segment.

Altech chairman, Iggy Tan, emphasized the significance of this agreement, stating Axsol’s interest highlights the unique advantages of the sodium-chloride solid-state technology used in Cerenergy batteries.

Previous Agreements Cement Cerenergy’s Position

This partnership follows earlier agreements signed by Altech. In September, the company secured a letter of intent with Zweckverband Industriepark Schwarze Pumpe for 30MWh of energy storage annually for five years. In November, another deal was struck with Referenzkraftwerk Lausitz, committing up to 158MWh in the first production year, followed by 32MWh annually for four years.

Deliveries to Axsol are set to begin in 2027, coinciding with the completion of Altech’s production facility in Germany. With three offtake agreements in place, Altech Batteries (ATC) is poised for a strong market presence in the renewable energy and defense sectors.

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