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- Altech Chemicals (ATC) purchases land in Germany for a battery materials project
- The company’s German subsidiary purchased the site to build a proposed 10,000 tonne per annum high-purity alumina battery materials coating plant
- The plant would produce alumina coated silicon and graphite anode materials using Altech’s proprietary coating technology
- Located in the new “automative nucleus” of Europe, the site is seen as an ideal location for the plant and bodes well for the supply of battery materials to European markets
- Shares have been trading 9.5 per cent higher at 11.5 cents
Through its German subsidiary, Altech Chemicals (ATC) has purchased land within the Schwarze Pumpe Industrial Park in Saxony, Germany for a battery materials project.
Altech Industries Germany is 75 per cent owned by Altech and has exercised its option to
purchase a 14-hectare site within the industrial park.
This area, in the eastern part of Germany, is said to be the new “automotive nucleus” in Europe and hosts production sites for Volkswagen, BMW, Porsche, Daimler and Tesla, as well as a number of key resource and technology players within the value chain of lithium-ion batteries.
Given its location, the company said the site is ideal for a proposed 10,000 tonne per annum high purity alumina battery materials coating plant, the preliminary feasibility study of which is being finalised.
The plant would produce alumina coated silicon and graphite anode materials for the lithium-ion battery and electric vehicle (EV) markets, using Altech’s proprietary coating technology.
Moreover, the company notes the plant location bodes well for the supply of alumina coated anode materials to European markets.
An official hand-over ceremony was held in the Dock3 facility of the industrial park, which is directly adjacent to the land, and is where AIG is proposing to construct the HPA battery materials coating pilot plant.
Shares were trading 9.52 per cent higher at 11.5 cents at 2:27 pm AEDT.
