Altech Batteries to acquire additional stakes in CERENERGY and Silumina Anodes

SUBIACO: Altech Batteries Limited (ASX: ATC) has announced a binding agreement to acquire additional stakes in the CERENERGY® and Silumina Anodes™ projects from Altech Advanced Materials AG (AAM).

The deal, valued at approximately A$23.3 million, will see Altech increase its ownership to 75% in the CERENERGY® project and 100% in the Silumina Anodes™ project.

Under the terms of the agreement, Altech will issue approximately 532 million fully paid ordinary shares to AAM, making AAM a 21% shareholder in Altech post-acquisition. The shares will be subject to a 12-month voluntary escrow period. The transaction is contingent on shareholder approval from both Altech and AAM, as well as regulatory approvals.

The CERENERGY® project, a joint venture with Fraunhofer, focuses on next-generation sodium-chloride solid-state batteries, offering a sustainable alternative to lithium-ion batteries. The Silumina Anodes™ project involves the development of high-purity alumina-coated silicon anodes, which enhance battery performance for electric vehicles.

Altech’s Managing Director, Iggy Tan, stated, “This acquisition is a strategic move to consolidate ownership and accelerate the commercialization of these high-value projects. It also addresses recent funding challenges faced by AAM and aligns the interests of both companies.”

The transaction is expected to close by June 2025, pending regulatory and shareholder approvals. Altech’s Board of Directors unanimously recommends that shareholders vote in favor of the acquisition, citing long-term value creation and streamlined decision-making as key benefits.