Perth, Australia, July 2, 2026 - (ABN Newswire) - 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 conditionalbinding 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 thedeadline 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 ofthe 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 andis 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.
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Contact:
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
Source:
Altech Batteries Ltd
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