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Altech Batteries Ltd (ATC)

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A Deep Dive profile lets ASX listed companies share their story in plain English.

Revolutionalising energy storage and battery materials

Altech Batteries has a vision to support a battery storage future via game changing solid state sodium alumina batteries and silicon-alumina anodes for higher energy density batteries. 

The company operates three core projects, which are:

1. CERENERGY Battery Project: An alternative salt nickel battery that does not require any lithium for grid storage.

2. Silumina Anodes Project: A German battery materials project which seeks to produce alumina coated silicon graphite anode material for battery sectors.

3. High Purity Alumina Project: Based in Malaysia, the project seeks to produce high purity alumina for battery sectors. Feedstock will be sourced from the company's 100% owned Kaolin deposit in Western Australia.

Altech is making progress on all three fronts, with plans to progress a Definitive Feasibility Study for both CERENERGY and the Silumina Anodes Project as well as finalising Stage 1 and 2 construction of the High Purity Alumina plan in Johor, Malaysia.

Highlights

Released the design for a sodium chloride battery pack for use in renewable energy and grid storage markets

The battery pack is estimated to be "in the region of 40% cheaper than lithium-ion batteries", with a projected lifespan of 15 years with "unlimited cycling and can operate in extreme cold and hot climates."

Commenced Definitive Feasibility Study for the development of a 10,000 tpa silicon and graphite alumina coating plant

Completed a bankable feasibility study for the High Purity Alumina Project and in the final stages of project finance

Mitsubishi Australia secured as buyer of HPA for 10 years.

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People

Board

Iggy Tan

Managing Director
Jul 2014 - Present

Mr Tan is a highly experienced mining and chemical executive with a number of significant achievements in commercial mining projects such as capital raisings, funding, construction, start-ups and operations.

Profile

Iggy Tan

Managing Director

Jul 2014 - Present

Mr Tan is a highly experienced mining and chemical executive with a number of significant achievements in commercial mining projects such as capital raisings, funding, construction, start-ups and operations. Mr Tan has over 30 years' chemical and mining experience and been an executive director of a number of ASX-listed companies. He holds a Master of Business Administration from the University of Southern Cross, a Bachelor of Science from the University of Western Australia and is a Graduate of the Australian Institute of Company Directors.

Mr Iggy Tan became the Company's managing director in August 2014. He is responsible for managing and implementing the next stage of the Company's strategic business objectives, which includes the commercialisation of the high purity alumina (HPA) project. Having been involved in the commissioning and start-up of seven resource projects in Australia and overseas, including high purity technology projects, Mr Tan is an accomplished project builder and developer.

Mr Tan previously held the positions of managing director of Nickelore Limited, Galaxy Resources Limited and Kogi Iron Limited. At Galaxy Mr Tan was responsible for the capital raising, construction and start-up of the company's Mt Cattlin spodumene mine ($80m) and the Jiangsu lithium carbonate plant ($100m), which resulted in Galaxy becoming the world's leading producer of high purity lithium carbonate. The Jiangsu plant was eventually sold for $260m in 2014.

Martin Stein

Chief Financial Officer
Nov 2021 - Present

Mr Stein is a finance and corporate executive with over 20 years’ experience. Mr Stein has most recently held the positions of Chief Financial Officer and Company Secretary in several ASX listed companies including Golden Deeps Limited, Metals Australia Limited and Sabre Resources Limited.

Profile

Martin Stein

Chief Financial Officer

Nov 2021 - Present

Mr Stein is a finance and corporate executive with over 20 years’ experience. Mr Stein has most recently held the positions of Chief Financial Officer and Company Secretary in several ASX listed companies including Golden Deeps Limited, Metals Australia Limited and Sabre Resources Limited.

In these roles, Mr Stein has been responsible for all aspects of capital raising, financial management, shareholder liaison and corporate governance.

Prior to this, Mr Stein held senior positions with Anvil Mining Limited as well as with PricewaterhouseCoopers at its London office. Whilst with PricewaterhouseCoopers, Mr Stein provided corporate services for companies listed on the LSE, NYSE and AIM, including Colgate-Palmolive, Sony, Heinz, DHL Express and Bosch.”

Luke Frederick Atkins

Non-Executive Chairman

Mr Atkins is a lawyer by profession and one of the founders of the company. Mr Atkins brings to the board extensive experience in the areas of mining, exploration, and corporate governance.

Profile

Luke Frederick Atkins

Non-Executive Chairman

Mr Atkins is a lawyer by profession and one of the founders of the company. Mr Atkins brings to the board extensive experience in the areas of mining, exploration, and corporate governance. Mr Atkins is also Non-Executive Director of the successful ASX listed mining and exploration company, Bauxite Resources Ltd (BRL). Mr Atkins formerly held the role of Executive Chairman of BRL after co-founding the company in 2007. He has played a key role in BRL third party negotiations to successfully access funding, joint venture partnerships, land and infrastructure.

Mr Atkins has had extensive experience in capital raisings and has held a number of executive and non-executive directorships of private and publicly listed companies including a number of mining and exploration companies.

Uwe Ahrens

Alternate Director
Aug 2015 - Present

Mr Uwe Ahrens is executive director of Melewar Industrial Group Berhad and managing director of Melewar Integrated Engineering Sdn Bhd.

Profile

Uwe Ahrens

Alternate Director

Aug 2015 - Present

Mr Uwe Ahrens is executive director of Melewar Industrial Group Berhad and managing director of Melewar Integrated Engineering Sdn Bhd. He also sits on the Board of several other private limited companies. Mr Ahrens holds Masters in both Mechanical Engineering and Business Administration from the Technical University Darmstadt, Germany. Upon graduation, Mr Ahrens joined the international engineering and industrial plant supplier, KOCH Transporttechnik GmbH in Germany, now belonging to FLSmidth Group, where he held a senior management position for 12 years, working mainly in Germany, USA and South Africa.

In 1997, he was based in Kuala Lumpur as General Manager of KOCH in South East Asia and became its Managing Director in 1999. He joined Melewar Group in 2002 and is also currently chief technical officer of the Melewar group of companies being responsible for engineering, upgrading, modification and extension of machinery and plant as well as the overall maintenance.

Daniel Lewis Tenardi

Non-Executive Director

Mr Tenardi is a highly experienced mining executive with some 40 years in the industry, including with a number of global resource industry leaders across a range of commodities, including iron ore, gold, bauxite, and copper.

Profile

Daniel Lewis Tenardi

Non-Executive Director

Mr Tenardi is a highly experienced mining executive with some 40 years in the industry, including with a number of global resource industry leaders across a range of commodities, including iron ore, gold, bauxite, and copper. Mr Tenardi previously spent 13 years with Alcoa, at its bauxite mines in the Darling Range in Western Australia, and a further two years at Alcoa's Kwinana refinery. He has substantial gold mining experience, including with Roche Mining at the Kalgoorlie Superpit and at Anglo Gold Ashanti's Sunrise Dam. Mr Tenardi subsequently worked at executive level for Rio Tinto's Robe River Iron Associates and their East Pilbara Division, and was appointed as a Director of Robe River Iron Associates in the latter years of his employment with Rio Tinto.

Prior to this appointment, Mr Tenardi was Managing Director of Bauxite Resources Ltd, where he led the rapid growth of the company from its initial exploration phase, expansion of land holdings, to the commencement of trial shipments and securing supportive strategic partnerships with key Chinese partners. Mr Tenardi also held the positions of General Manager of Operations and Chief Operating Manager at CITIC Pacific Mining.

Mr Tenardi is currently non-executive director of Grange Resources Ltd.

Peter Bailey

Non-Executive Director

Mr Bailey is a highly experienced and qualified engineer with over 40 years' experience in the mining and industrial mineral production industry and has an electrical engineering degree from the University of London.

Profile

Peter Bailey

Non-Executive Director

Mr Bailey is a highly experienced and qualified engineer with over 40 years' experience in the mining and industrial mineral production industry and has an electrical engineering degree from the University of London. Mr Bailey spent the majority of his career in the iron ore mining, bauxite mining, zinc-lead-copper mining, alumina refining and alumina chemicals industries respectively.

Mr Bailey was President of Alcoa Bauxite and Alumina in 1996, and was responsible for Alcoa's eight alumina plants outside of Australia. He was also the chairman of the Alcoa Bauxite joint venture in Guinea, Africa.

In 1998, he was appointed President of Alcoa Worldwide Chemicals' industrial chemicals department from 1998. He was responsible for Alcoa's worldwide chemicals business, comprising 13 plants across eight countries, with an annual revenue of approximately $700 million. Post Alcoa, Mr Bailey was chief executive officer of Sherwin Alumina, an alumina refinery based in Texas, USA. The Sherwin alumina plant was capable of producing 1.4 mtpa of smelter grade alumina and 300,000 tonnes of chemical grade or specialty alumina per year. The Sherwin alumina plant was eventually sold to China Minmetals (51%) and then the remaining 49% to Glencore in 2007.

Tunku Yaacob Khyra

Non-Executive Director

Tunku Yaacob Khyra is the Executive Chairman of the Melewar Khyra Group of Companies (Melewar), a Malaysian base diversified financial and industrial services group.

Profile

Tunku Yaacob Khyra

Non-Executive Director

Tunku Yaacob Khyra is the Executive Chairman of the Melewar Khyra Group of Companies (Melewar), a Malaysian base diversified financial and industrial services group. He is the major owner and shareholder of Melewar. Tunku Yaacob Khyra sits on the Boards of Khyra Legacy Berhad, Mycron Steel Berhad, MAA Group Berhad, Melewar Industrial Group Berhad, Ithmaar Bank B.S.C.(listed on Bahrain Stock Exchange) and several other private companies.

Tunku Yaacob Khyra graduated with a Bachelor of Science (Hons) Degree in Economics and Accounting from City University, London. An accountant by training, he is a Fellow of the Institute of Chartered Accountants in England & Wales and a member of the Malaysian Institute of Accountants. He started his career as an Auditor with Price Waterhouse, London from 1982 to 1985 and subsequently joined Price Waterhouse Kuala Lumpur from 1986 to 1987. He joined Malaysian Assurance Alliance Berhad in 1987 and retired as its Chief Executive Officer in 1999.

Hansjorg Plaggemars

Non-Executive Director

Mr Plaggemars was previous member of the board of Delphi Unternehmensberatung AG and Deutsche Balaton AG (ATC major shareholder) and currently acts as their representative.

Profile

Hansjorg Plaggemars

Non-Executive Director

Mr Plaggemars was a previous member of the board of Delphi Unternehmensberatung AG and Deutsche Balaton AG (ATC major shareholder) and currently acts as their representative. Mr Plaggemars is based in Hiedelberg, Germany and is an experienced company director and manager. He studied business administration at the University of Bamberg from 1990 to 1995.

Mr Plaggemars has been a management consultant since June 2017 and is a board member of various companies within the scope of projects. Mr Plaggemars is currently a member of the management board of Frankfurt Stock Exchange listed Altech Advanced Materials AG. Mr Plaggemars also currently serves as a non-executive director at ASX listed Devenport Resources Limited, Kin Mining Limited and Azure Minerals Limited.

Projects

Altech Gridpack battery
Project

CERENERGY Battery Project

Altech and its German joint venture partner Fraunhofer IKTS are commercialising a revolutionary CERENERGY Sodium Alumina Solid State (SAS) Battery.

Fraunhofer estimates that the battery solution to be "in the region of 40% cheaper than lithium-ion batteries" as the product does not require any critical and expensive materials such as lithium, graphite and cobalt.

The battery has a sea container design, with plug and play functionality along with a projected lifespan of 15 years with "unlimited cycling and can operate in extreme cold and hot climates."

The joint venture has plans to construct a 100MWh production facility on Altech's land in Saxony, Germany.

A Definitive Feasibility Study is currently underway to confirm the economics of the project and battery features.

Learn More
Project

Silumina Anodes Battery Materials Project

Altech recently announced its game changing technology of incorporating high-capacity silicon into lithium-ion batteries. Through in house R&D, the Company has cracked the “silicon code” and successfully achieved a 30% higher energy battery with improved cyclability or battery life The Company is in the race to get its patented technology to market, and recently announced the results of a preliminary feasibility study (PFS) for the construction of a 10,000tpa Silumina Anode material plant at AIG’s 14-hectare industrial site within the Schwarze Pumpe Industrial Park in Saxony, Germany.

Learn More
Dock3-Facility Altech
ATC HPA plant computer render
Project

High Purity Alumina Project

Altech is aiming to become one of the world’s leading suppliers of high purity alumina through the construction and operation of a proposed 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia.

Feedstock for the plant will be sourced from the Company’s 100%-owned kaolin deposit at Meckering, Western Australia. Initial construction works for the Malaysian HPA plant commenced in August 2018 with clearance of the Company’s plant site.

Altech is in the final stages of project finance with a potential raising of US$100m of secondary debt via the listed green bond market. In addition, US$100m of project equity is being sought through potential project joint venture partners.

Learn More

Key Milestones

Historical Milestones

Q1 2023
Change of Company Name to Altech Batteries from Altech Chemicals
Q1 2023
Launch of 1.0 MWh Gridpack design for renewable energy storage market
Q1 2023
Progressing CERENERGY Battery Project DFS study and German Silumina Anodes Pilot Plant

Future Milestones

Q2 2023
Explore early-stage off-take agreements for CERENERGY batteries
Q2 2023
Produce CERENERGY 60 KWh battery back prototypes
Q3 2023
Commission German 10,000 tpa Silumina Anodes Pilot Plant

Investors

Major Shareholders

Capital Raises

$8.1 million share placement
Dec 2021

Successful $8.1 million capital raise that was oversubscribed, with strong demand and interest. Proceeds from the Placement will be applied to Altech’s 75% portion of funding the construction of a battery materials coating pilot plant in Germany by Altech Industries Germany GmbH; purchase of land at the Schwarze Pumpe Industrial Park; completion of the preliminary feasibility study in relation to the construction of a 10,000tpa battery materials plant; a definitive feasibility study for construction of a battery materials plant, and for working capital purposes.

Raised $8.1m
Offer Price $0.107
Notes
$14.5 Million Raised from Rights Issue
Dec 2020

$14.5 million has been raised (before costs) via its non-renounceable entitlement offer that was launched on 9 November 2020, and closed 11 December 2020 with the shortfall placed on 22 Jaunuary 2021. Underwritten by major shareholders, Deutsche Balaton, Delphi and the Melwar group.

Raised $14.5 million
Offer Price $0.04
Notes One free attaching option for each two new shares subscribed and issued. Exercise price $0.08, expiry 31 May 2022.
Share Placement and SPP Raises $4.6m
Dec 2019

Completion of an $1.8 million (before costs) share placement and the initiation of a share purchase plan (SPP) whereby existing shareholders could apply for up to $30,000 of new Altech shares at the same price as the Placement participants. An additional $2.8 million was raised via the SPP for a total $4.6 million.

Raised $4.6m
Offer Price $0.0975
Notes
$18 million Placement
Apr 2019

Successful completion of an A$18.0 million (before costs) share placement. Anchored by two German institutional investors (Deutsche Balaton and Delphi), each subscribed to A$5.425 million worth of new Altech shares.

Raised $18m
Offer Price $0.1085
Notes

Reports and Presentations

Iggy Tan Lines Up Lithium Dream Team for Apollo Project in James Bay

22 Jun 2023 | Announcement
Rich text (59 KB)

Preliminary Battery Specifications GridPack Battery Products

13 Jun 2023 | Announcement
PDF (713.7 KB)

Two 60KWh Battery Pack Prototypes in Production

09 May 2023 | Announcement
PDF (424.3 KB)

Quarterly Activities and Cashflow Report - Mar 2023

28 Apr 2023 | Report
PDF (8024.4 KB)

Quarterly Activities and Cashflow Report - Dec 2022

31 Jan 2023 | Report
PDF (6874.2 KB)

Quarterly Activities and Cashflow Report - Sep 2022

31 Oct 2022 | Report
PDF (12806.4 KB)

Quarterly Activities and Cashflow Report - June 2022

29 Jul 2022 | Report
PDF (5232.5 KB)

Company Presentation

19 Nov 2021 | Presentation
PDF (3210.2 KB)