Lithium-ion battery disruptor Altech provides update on progress of German JV
Altech has a type of battery that can outperform lithium-ion in future climate change scenarios
Source: iStock
Mentioned
KEY POINTS
- Altech formed a Joint Venture (JV) with German battery research experts Fraunhofer IKTS in September last year
- The JV calls itself CERENERGY and its key focus is developing Sodium Alumina Solid State (SASS) batteries
- SASS batteries do not contain acidic liquids and are capable of operating in extreme temperatures, needed to decarbonise extreme areas
In September last year, lithium-ion battery disruptor Altech Chemicals (ASX:ATC) formed a JV with Germany battery research house Fraunhofer IKTS called CERENERGY.
On Wednesday, Altech confirmed it is pursuing negotiations with EU banks to provide further funding support to the project.
The JV is predominantly focused on developing, marketing, and selling its Sodium Alumina Solid State (SASS) batteries.
Those SASS batteries already exist, and are being sold into the European market. Coltico provides a product overview.
Altech continues to progress a Definitive Feasibility Study (DFS) for its vision of a fully fleshed out 100MWh capacity battery manufacturing facility (as in, producing so many batteries each year they would collectively provide 100 megawatt hours of power).
Germany’s Leadec Automation & Engineering GmbH is the lead engineer on that DFS.
Leading energy company interested
The partnership said on Wednesday a “leading German energy company” is in discussions with the JV towards procuring the SASS assets in a first-stage trial run.
“We have moved very quickly on the opportunity and managed to close the joint venture Agreement with Fraunhofer…since that time, we have raced to get the project moving,” Altech chief Iggy Tan said.
“On the marketing front, the team have been having discussions with potential interested off-take parties…we have also launched the design for the 60 KWh battery pack for the renewable energy storage sector. To date, all plant and equipment suppliers have been selected.”
The shtick in question
SASS batteries can be scaled down for use in Electric Vehicles (EVs), or scaled up to a size needed for Battery Energy Storage Systems (BESSies).
According to Altech, The SASS battery is superior to traditional lithium-ion formulations found in both EVs and BESSies given that there are no high volumes of toxic and acidic liquids, and the SASS assets can operate in extreme temperatures over 60 degrees Celsius and under freezing.
The decarbonisation thematic implications for SASS batteries are clear: as global warming rolls on, climate resilience will become a more fundamental part of energy infrastructure and praxis.
ATC's one year chart
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Aktech 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.
