Altech Advanced Materials AG - Conclusion of a letter of intent (LOI) with Zweckverband Industriepark Schwarze Pumpe e.V. for the supply of CERENERGY battery packs
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EQS-Ad-hoc: Altech Advanced Materials AG / Key word(s): Letter of Intent
Heidelberg, 12. September 2024 Altech Advanced Materials AG (ISIN: DE000A31C3Y4) announces that its operating company Altech Batteries GmbH has signed a Letter of Intent ("LOI") with Zweckverband Industriepark Schwarze Pumpe (“ZISP”) for the supply of CERENERGY battery packs. Under this non-binding agreement, ZISP will purchase 30 MWh of energy storage capacity per year, consisting of 30 units of 1 MWh GridPacks, from 2027 for an initial period of 5 years. The purchase of these batteries is subject to performance tests and battery specifications being carried out and the batteries meeting customer requirements. The first deliveries of the CERENERGY ceramic solid-state battery to ZISP are planned for mid-2027. With the delivery of the CERENERGY battery packs to ZISP, Altech is making a significant contribution to the use of sustainable energy sources in the industrial park.
Explanatory part The Altech Group is planning to build a 120 MWh production plant for CERENERGY battery packs for grid storage solutions in Schwarze Pumpe, Saxony. The CERENERGY sodium chloride solid-state battery, developed jointly with the Fraunhofer-Gesellschaft IKTS, is fire and explosion-proof and has a service life of more than 15 years. The battery technology uses conventional common salt and nickel and is free of lithium, cobalt, graphite and copper. The agreement underlines the commitment of Altech and ZISP to fully convert the Schwarze Pumpe Industrial Park to renewable energy. Wind and solar energy in combination with Altech's CERENERGY GridPack Battery Energy Storage System (BESS) are one of the keys to achieving this goal. The BESS ensures a continuous energy supply even during low power generation or power outages, overcoming one of the biggest challenges in the transition from coal. The partnership between ZISP and Altech is an important step towards replacing coal with sustainable, renewable energy solutions that are in line with the legal mandate to phase out coal in Germany from 2020. The project also supports ZISP's goal of achieving certification under the EU's Zero Valley initiative and making Schwarze Pumpe a model industrial park for other regions across Europe and a model for renewable energy storage and generation. Uwe Ahrens, board member of Altech Advanced Materials AG: "This letter of intent is a significant milestone for Altech as it represents our first offtake agreement for the CERENERGY GridPack battery energy storage system. The interest of Zweckverband Industriepark Schwarze Pumpe in our technology is a clear signal of the growing demand for innovative energy storage solutions, especially as the industry transitions to 100% renewable energy. With our scalable and reliable battery systems, Altech can make an important contribution to the decarbonisation of industry and the economy and significantly advance the path towards a green energy future." CERENERGY battery project Altech Batteries GmbH (ABG) is a joint venture with the world-leading German battery institute Fraunhofer IKTS to commercialise the revolutionary CERENERGY sodium-alumina solid-state battery (SAS). CERENERGY batteries are the ground-breaking 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 aluminium 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 Executive 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
12-Sep-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: | 1987107 |
| End of Announcement | EQS News Service |
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1987107 12-Sep-2024 CET/CEST
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