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EQS-Ad-hoc: Altech Advanced Materials AG / Key word(s): Agreement
Heidelberg, 26. November 2024 - Altech Advanced Materials AG (ISIN: DE000A31C3Y4): Altech Batteries GmbH has signed a Letter of Intent ("LOI") with Enertrag SE, Energiequelle GmbH and Referenzkraftwerk Lausitz GmbH ("the Partners") for the purchase of 30 MWh in 2027 and then 32 MWh units annually of CERENERGY 1 MWh GridPacks initially until 2031. The partners are planning to develop a self-sufficient, hybrid energy island solution with wind power and photovoltaic systems as a standard solution for decentralized use throughout Europe. The letter of intent also includes the purchase of 10 GridPacks for the "Reflau" reference power plant in Schwarze Pumpe, Saxony. As part of this project, the first 32 CERENERGY ceramic solid-state batteries from Altech will be used as temporary energy storage units to feed the renewable energy generated into the power grid on a time-delayed basis as required. The first energy storage units are due to be delivered at the end of 2026 to our partners. As part of the LOI, it was further agreed that Altech will purchase green electricity at competitive prices directly from the partners in the region for the planned production plant. Explanatory part Altech plans to build a production plant for CERENERGY battery packs with an annual production capacity of 120 MWh in Schwarze Pumpe. This LOI, which has now been concluded, is the second letter of intent within a few weeks for the salt-based solid-state batteries developed for stationary industrial operation (see press release dated 12.09.2024). Uwe Ahrens, CEO of Altech Advanced Materials AG: "The Schwarze Pumpe Industrial Park is going green. Altech is playing a key role in this with its innovative battery storage systems. We are delighted to have concluded the LOI with Enertrag, Energiequelle and the Lausitz reference power plant. This is the second LOI we have signed with strong partners in the region in a very short space of time, following the Schwarze Pumpe Industrial Park Special Purpose Association. This means that we already have letters of intent to purchase around half of our planned annual production. This is a great success and another important step towards realizing the outstanding financing for the planned production plant." CERENERGY battery project Altech Batteries GmbH (ABG) is a joint venture with the world-leading German battery institute Fraunhofer IKTS to commercialize the revolutionary CERENERGY sodium-aluminum oxide solid-state battery (SAS). CERENERGY batteries are the groundbreaking alternative to lithium-ion batteries. CERENERGY batteries are fire and explosion-proof and have a service life of more than 15 years. The battery technology uses common salt and is free of lithium, cobalt, graphite and copper, eliminating dependence on critical metal price increases and supply chain issues. The joint venture markets its CERENERGY battery and plans to build a 120 MWh production plant on the Altech site in Saxony. The plant will produce CERENERGY battery modules for the grid storage solutions market. About Altech Advanced Materials AG Altech Advanced Materials AG (ISIN: DE000A31C3Y4), based in Frankfurt am Main, is a holding company listed on the regulated market of the Frankfurt Stock Exchange. The company's aim is to participate in the solid-state battery market for stationary battery applications with CERENERGY. Another focus is on lithium-ion batteries. An innovative anode material based on high-purity aluminum oxide (HPA) - Silumina Anodes - is intended to significantly increase the performance of this battery for electromobility. Further information: www.altechadvancedmaterials.com Altech Advanced Materials AG The Management Board: Iggy Tan, Uwe Ahrens, Hansjörg Plaggemars Ziegelhäuser Landstrasse 3 69120 Heidelberg info@altechadvancedmaterials.com Tel: + 49 6221 649 2482 www.altechadvancedmaterials.com Contact the press: Ralf Droz / Doron Kaufmann, edicto GmbH Tel: +49 (0) 69 905505-54 E-Mail: AltechAdvancedMaterials@edicto.de End of Inside Information
26-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Altech Advanced Materials AG |
| Ziegelhäuser Landstraße 3 | |
| 69120 Heidelberg | |
| Germany | |
| Phone: | +49 6221 6492482 |
| E-mail: | info@altechadvancedmaterials.com |
| Internet: | www.altechadvancedmaterials.com |
| ISIN: | DE000A31C3Y4 |
| WKN: | A31C3Y |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange |
| EQS News ID: | 2035931 |
| End of Announcement | EQS News Service |
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2035931 26-Nov-2024 CET/CEST
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