Altech Managing Director, Iggy Tan, signing the construction contract with Kuttner Managing Director Jan Meier-Kortwig. Source: Altech
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Altech Chemicals (ATC) executes a final construction contract for the Silumina Anodes pilot plant with German engineering company Küttner, following a visit to Germany
  • Küttner will commence the procurement process and construction when equipment begins to arrive at the back-end of this year
  • The pilot plant is designed to produce 120kg per day of battery anode material coated in Altech’s Silumina Anodes product
  • The company says it is well funded to construct and complete the pilot plant with $11.5 million in the bank as of the end of the March quarter
  • ATC shares are trading in the grey at five cents each at 1:23 pm AEST

Altech Chemicals (ATC) has executed a final construction contract for the Silumina Anodes pilot plant with German engineering company, Küttner.

The contract follows Altech’s senior management undertaking a site visit in Saxony, Germany.

Küttner has completed the final plant engineering design and cost estimation for the plant and will commence the procurement process and construction when equipment begins to arrive later this year.

The pilot plant is designed to produce 120kg per day of Altech’s Silumina Anodes-coated battery anode material, which will be for selected European battery manufacturers and auto-makers.

Altech said the pilot plant will be established in Dock3, next-door to the company’s land in Schwarze Pumpe Industrial Park.

The company is well funded to construct and complete the pilot plant with $11.5 million in the bank at the end of March.

The pilot plant is expected to cost around $7.1 million, of which $5.3 million will be funded by Altech (75 per cent owner) and A$1.7 million will be funded by Altech Advanced Materials AG (25 per cent owner).

On the market, ATC shares were in the grey at five cents each at 1:23 pm AEST.

ATC by the numbers
More From The Market Herald

" Empire Resources (ASX:ERL) records further multi-element mineralisation at Yuinmery, WA

Empire Resources (ASX:ERL) has intersected more multi-element mineralisation at its Yuinmery project in Western Australia.

" R3D Resources (ASX:R3D) to commence drilling in QLD this weekend

R3D Resources (ASX:R3D) is gearing up to commence a drilling program at key copper and zinc…
The Market Herald Video

" DDH1 (ASX:DDH) launches share-buy back

DDH1 (ASX:DDH) has launched an on-market share buy-back program of up to 10 per cent of…
The Market Herald Video

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.