Altech Batteries Ltd (ALTHF) Extension of Grant Deadline for Project Finance
Altech Batteries Ltd (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) announces that, in relation to the binding conditional funding approval in the amount of 46.7 million Euro granted for the CERENERGY(R) Sodium Chloride Solid State battery project in Saxony, the deadline for fulfilling the condition to achieve full project financial close has been extended beyond 30 June 2026 to 30 September 2026.
Highlights
- Altech Batteries GmbH's CERENERGY(R) battery project has previously received conditional binding funding approval under Germany's federal "STARK" economic development program.
- The approval relates to a grant covering approximately 30% of eligible project CAPEX, with funding of up to EUR46.7M.
- The funding commitment was conditional on achieving full project financial close by 30 June 2026 and parliamentary approval of funds under Germany's 2026 Federal Budget.
- Altech has received notification from the German Federal Ministry for Economic Affairs and Energy that the deadline for fulfilling the condition to achieve full project financial close has been extended beyond 30 June 2026 to 30 September 2026.
The funding is being provided as part of the federal STARK program, which is supported by the Federal Ministry for Economic Affairs and Energy in cooperation with the EU. The aim of this program is to lead regions undergoing structural change into an ecologically, economically and socially sustainable future.
This decision underscores the importance of the innovative CERENERGY(R) technology, which is being developed in collaboration with the Fraunhofer Society. The Sodium-Chloride Solid-State battery offers a safe, sustainable and strategically independent alternative to lithium-ion batteries and is expected to play an important role in future stationary energy storage solutions - especially for the European market.
The Company continues to remain focused on completing financial close and advancing the CERENERGY(R) technology toward commercial deployment to support long-duration, safe and sustainable stationary energy storage solutions for the European market.
Daniel Raihani Managing Director Altech Batteries Limited Tel: +61-8-6168-1555 Email: info@altechgroup.com Martin Stein Chief Financial Officer Altech Batteries Limited Tel: +61-8-6168-1555 Email: info@altechgroup.com
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