Altech to present its silicon EV battery tech to German Chancellor Olaf Scholz

Mon 12 Sep 22, 10:53am (AEST)
The Bavarian Chancellery located in Munich
Source: Unsplash

Key Points

  • Altech’s pilot plant to produce its trademark silicon EV battery tech underway with building modifications in housing facility underway
  • Company will present its technology to German Chancellor Olaf Scholz
  • Scholz-led government has committed EUR40bn to spending in the Saxony industrial region where pilot plant is located

Altech Chemicals (ASX:ATC), developing silicon-based technology to boost the performance of EV batteries and targeting the European market, will present its Silumina Anodes technology to the German Chancellery in Berlin. 

The Chancellery is the office of German Chancellor Olaf Scholz, who earlier this year stepped in to replace Angela Merkel. 

Olaf Scholz is widely regarded for being pro-ESG, though, ruffled some feathers when he firmly put a foot down against the prospect of bringing online new nuclear energy facilities in Western Europe’s largest country. 

Chancellor has visited pilot plant site 

Regardless, Altech today notes the Chancellor has already visited the site where Altech is to build its pilot plant facility, where the company will produce 120kg of its Silumina Anodes product. 

That visit came as part of a larger Federal initiative to re-work industrial areas in East Germany, formerly attached to coal mining, into industrial areas more aligned with a decarbonised future. 

As part of that Federal program, the German government has committed to spend EUR40bn in the region and across industries together. 

Altech notes its Silumina Anodes project aligns it with the German government’s European Battery Alliance framework. 

Where is the Pilot Plant?

In June, Altech executed a construction contract for the pilot plant with Küttner GmbH & Co. KG (Küttner).

Construction starts later this year and will be established in a warehouse next door to pre-existing land held by Altech (via its subsidiary AIG) in the Schwarze Pumpe industrial area in Saxony. 

Altech today notes building modifications have already commenced, with procurement of pilot plant equipment well underway and further materials inbound.

The silumina anode products will be tested by German EV battery tech experts Fraunhofer IKTS. When that partnership was announced in July, company shares jumped 7%

IKTS is a leading materials and research expert when it comes to lithium-ion batteries, and also has a laboratory nearby.

Altech's three month charts
Altech's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Altech was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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